Fintech startup CrossFund has successfully completed its fourth round of financing in just two years.
The funding was sourced from prominent investors including family offices from the Middle East and North Africa (MENA) and Asia, along with significant players such as BlockBase Ventures, UI Investments, Australian Gulf Capital, BXB Capital, and various strategic angels.
Launched in 2021 by entrepreneurs Ben Cardarelli and Davide Cali, CrossFund has rapidly ascended as the go-to equity financing platform for startups across Southeast Asia (SEA) and Europe, the Middle East, and Africa (EMEA).
To date, the platform has facilitated over $40 million across 80 diverse investments, drawing the interest of 15,000 accredited investors and making headlines with its first-ever exit to a company listed on NASDAQ.
Ben Cardarelli shared insights into the startup’s success, highlighting the strong foundation they’ve established in Asia. He noted the growing potential in countries with burgeoning economies such as India, Indonesia, Vietnam, and the Philippines. The opportunity lies in their large, young, and tech-driven populations coupled with a rising middle class.
Vietnam, especially Ho Chi Minh City, has emerged as a pivotal strategic base for CrossFund. The company has secured unparalleled access to the most promising Vietnamese and SEA startups, promising equity ownership to investors with minimum capital outlays.
It’s also noteworthy that CrossFund’s portfolio has skyrocketed, registering a 400% growth in just two years. They proudly announce their successful exit with Edugo’s acquisition and have stakes in market disruptors like Clever, Vulcan, and Lipa Later, among others. These startups are supported by venture giants including YCombinator, VECTR, and Goodwater.
A defining feature of CrossFund’s success stems from its innovative use of artificial intelligence (AI) in the vetting and fundraising process, coupled with Web3 integrations. Davide Cali, with over 25 years of IT experience, emphasized the groundbreaking approach of merging high tech with fundraising, allowing for unprecedented scalability across emerging markets.
In an era where U.S. fintech giants like AngelList and Republic are evolving into unicorns and expanding their global footprint, CrossFund is optimally positioned to tap into the vast potential of emerging markets.
Cardarelli envisions a bright future, emphasizing Asia and MENA’s role as innovation powerhouses and the pivotal role CrossFund aims to play in the wealth transition towards these regions.