US-Based Bitcoin-Focused Startup Fedi Raises $17M in Series A Funding Round

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Fedi, the US-based fintech led by Nigerian bitcoin lawyer Obi Nwosu, said on May 3 that it recently raised $17 million in a Series A funding round. said she would use the funds to help launch what she called the “world’s first federated operating system.” Obi Nwosu said the Fedi Alpha version, which is aimed at the builder community, is expected to roll out later in May.

“Protect user privacy and autonomy”

U.S.-based bitcoin-focused company Fedi announced on May 3 that it had raised $17 million in a Series A funding round. Ego Death Capital led the round which also saw the participation of TBD, Kingsway, Trammell Venture Partners and Timechain. The latest round brings the total funding raised by Fedi to $21.21 million.

In a statement on its blog, the company said it would use the funds to help achieve its goal of launching the “world’s first federated operating system.” According to the statement, Fedi wants the app to allow members of different communities to collaborate and take control of their funds, data and digital lives “while protecting user privacy and autonomy.”

Obi Nwosu, the founder and CEO of Fedi, is quoted in the statement expressing his satisfaction with the makeup investors who have joined us. He said:

We are delighted that with so much interest in this round, we have been able to select investors who are fully aligned with the future we are trying to create with Fedi, the world’s first federated operating system.

Nwosu, a bitcoin advocate, added that he wanted the app to empower not just bitcoiners or tech-savvy people, but anyone trying to “solve real problems” within their respective community to do so. .

Fedi’s original goal

As explained in Fedi’s blog post, the company initially wants to “focus on a few core functions such as the safe storage and transaction of bitcoins.” Protecting user data as well as ensuring safe and secure communications among community members are also areas Fedi will focus on, the blog post adds.

In remarks following the Fedis announcement, Jeff Booth, co-founder of Ego Death Capital, praised the company’s bitcoin-focused offering which he says allows users to “take back control of everything that matters in [their] digital life.

Meanwhile, Nwosu is quoted in the blog posting that his company hopes to unveil details about the Fedi Alpha version which is aimed at the builder community. According to the message, Fedi hopes to roll out this version in May.

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Terence Zimwara

Terence Zimwara is an award-winning journalist, author and writer in Zimbabwe. He has written extensively on the economic issues of some African countries as well as how digital currencies can provide an escape route for Africans.

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