Klickl Secures $25 Million Series A Funding at $125 Million Valuation

UAE-based Web3 banking startup Klickl has successfully concluded its Series A funding round, raising $25 million at a valuation of $125 million. The oversubscribed round highlights the growing confidence in Klickl’s innovative vision and its leadership within the Web3 banking space.

Funding Details and Key Investors

The funding round was co-led by Web3Port Foundation and Aptos Labs, with significant contributions from investors such as Summer Ventures, Heritage Horizon Capital, V2 Capital, Alpha Square Group, Heng Feng Group, Trend Investment, and Bond Group. These strategic partnerships are expected to bolster Klickl’s growth and market presence.

Klickl's Foundation and Vision

Established in 2017 by Michael Zhao, Klickl is a Web3 open finance platform offering banking, digital payments, and crypto trading services. The platform is dedicated to simplifying the transition into the Web3 ecosystem for users globally.

Expansion Initiatives Fueled by the Funding

This funding will enable Klickl to enhance its Web3 banking services, focusing on emerging markets across the MENA region and other global territories. Two major initiatives—Klickl Labs and Klickl Foundation—are set to launch in Q4 2024:

• Klickl Labs: Partnering with Summer Ventures, Klickl Labs will drive joint ventures in Web3 banking, virtual asset servicing, and crypto payments. It aims to create scalable solutions for cross-border remittance and digital payment infrastructure, particularly targeting high-growth regions in the Middle East and Africa.

• Klickl Foundation: This initiative will invest in the Klickl Web3 ecosystem, advancing innovations within the PayFi industry and fostering the mass adoption of Web3 technologies.

Strategic Role of Web3Port Foundation

Web3Port Foundation, an accelerator platform supporting over 1,000 Web3 projects, will be crucial in Klickl’s expansion. As a founding partner of the Klickl Foundation’s Web3 Fund, Web3Port will contribute its expertise in tokenomics to promote the widespread adoption of Web3 solutions.

Bobby Zhou, Chairman of Web3Port UAE, emphasized, “Supporting Klickl in redefining Web3 banking aligns with our mission to expand the UAE’s presence in the Web3 ecosystem. With partnerships across Abu Dhabi and leading VC firms, we aim to drive innovation and foster community growth within this transformative industry.”

Technological Backbone: Aptos Network

Aptos Network, a Layer 1 blockchain recognized for its cutting-edge technology and the Move programming language, was also a key participant in this funding round. With sub-second end-to-end latency and robust security measures, Aptos sets new standards for blockchain performance and reliability.

Comments from Klickl’s Leadership

Michael Zhao, Founder and CEO of Klickl, expressed gratitude for the trust and support from investors and local authorities. He stated, “The backing from Web3Port Foundation, Aptos Labs, and our long-term investors validates our vision and positions us to expand Web3 banking services in emerging markets. The regulatory support under ADGM has been instrumental in establishing Klickl as the region’s first fully licensed Web3 banking service, offering crypto custody and brokerage solutions.”

A Promising Future for Web3 Banking

With this significant funding milestone, Klickl is poised to lead the Web3 banking revolution, creating seamless financial solutions for a decentralized future. By focusing on innovation, partnerships, and regulatory compliance, Klickl aims to redefine banking in the Web3 era.