NEAR-Based Wallet Sender Raises $4.5M in Private Round

The NEAR Protocol (NEAR/USD) Sender ecosystem wallet successfully raised $4.5 million in a private round that attracted several major crypto-focused venture capitalists.

An announcement from the NEAR-based eco-portfolio team on Monday says investment firm Pantera Capital led the funding round. Participation included Crypto.com Capital, Jump Capital, WOO Network, SevenX Ventures, Amber Group, Smrti Labs, D1 Ventures, Puzzle Ventures, Eniac Ventures, Shima Capital and GFS Ventures.

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The funding round also attracted high-profile projects within the NEAR ecosystem, including Octopus Network, Ref Finance and Paras.

The private round was organized in the form of a token sale and took place a few months after Binance Labs and Metaweb Ventures led Team Sender’s seed round in April this year.

Shipper eyes growth in NEAR ecosystem

According to the platform, the injection of new funds will help it expand the R&D team and raise the security threshold of the portfolio.

Sender also plans to use the extra financial muscle to pursue adoption in the NEAR ecosystem. Part of this goal will be to add to the more than 30 projects already integrated into the portfolio in the NEAR protocol, a milestone that has seen more than 500,000 cumulative downloads of the plug-in and mobile versions of Sender.

The NEAR token is up almost 5% in the past 24 hours as the protocol continues to see a bullish bounce. In fact, the coin jumped 35% on August 8 amid buying pressure as the broader crypto and equity market saw some relief.

Commenting on the cycle and growth of Sender Wallet, Paul Veradittakit, General Partner at Pantera Capital, said:

As the leading crypto wallet in the NEAR ecosystem with a full suite of browser plugins and iOS and Android apps, Sender is experiencing massive user growth and we’re excited to help them take it to the next level..”

The appeal is further enhanced by the wallet’s ease of use with built-in support for staking, token swapping, and presentation of non-fungible tokens (NFTs), among other features.

The sender’s growing stature among crypto users is also due to its support for connecting multi-hardware wallets, in this case to Ledger and Keystone.

Other than that, users can buy cryptocurrency directly from the wallet in over 140 countries thanks to the wallet’s fiat-to-crypto support. This is offered through integration with payment providers Moonpay, Banxa and Transak.

Future growth plans include offering liquidity aggregation via Sender Swap; Group of senders (implantation of nodes); Sender Market – a unique on-chain NFT aggregation and multi-signature hosted wallet, Sender Pro.

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