Web3 Bank Klickl headquartered in UAE raises $25 million

Web3 Bank Klickl headquartered in UAE raises $25 million

UAE regulated Klickl International offering Web3 banking services, has closed an oversubscribed $25 million Series A funding round. This latest achievement brings Klickl’s valuation to $125 million.

The round was co-led by prominent Web3 investors Web3Port Foundation and Aptos Labs, joined by notable participants including Summer Ventures, Heritage Horizon Capital, V2 Capital, Alpha Square Group, Heng Feng Group, Trend Investment, and Bond Group.

This funding milestone positions the Web3 Blockchain enabled bank for accelerated growth in the burgeoning global Web3 banking space. Klickl Labs will spearhead strategic joint ventures leveraging its Web3 banking services, virtual asset servicing, and crypto payments/brokerage platform, targeting high-growth markets in the Middle East and Africa and act as an incubator for high-impact ventures, fostering scalable solutions in cross-border remittance and digital payment infrastructure.

Meanwhile, Klickl Foundation will channel investments into the Klickl Web3 ecosystem, setting new benchmarks for the PayFi industry.

Web3Port Foundation, a renowned investment and accelerator platform supporting over 1,000 Web3 projects, will play a pivotal role in Klickl’s expansion. As a founding strategic partner, Web3Port will serve as a Limited Partner for the Klickl Foundation’s Web3 Fund and leverage its expertise in tokenomics to drive mass adoption of Web3 technologies.

Bobby Zhou, Chairman of Web3Port UAE, commented, “We are thrilled to support Klickl in its journey to redefine global Web3 banking services. This partnership also marks a significant step in our UAE expansion strategy. In 2024, Web3Port has partnered with RPG Holdings in Abu Dhabi and 19 leading VC firms to establish a stronger Web3 presence in the UAE. Together with local government and regulators, we aim to foster rapid innovation and community growth in the Web3 ecosystem.”

The Aptos Network is a Layer 1 blockchain, renowned for its breakthrough technology and Move programming language. Aptos Network is designed to continuously evolve, deliver exceptional performance, and reinforce user security safeguards. It is the first blockchain to achieve sub-second end-to-end (E2E) latency, setting a new standard in blockchain performance.

Michael Zhao, Founder and CEO of Klickl, stated,“The support from Web3Port Foundation, Aptos Labs, and our long-term investors — including Summer Ventures, Heritage Horizon Capital, V2 Capital, Alpha Square Group, Heng Feng Group, Trend Investment, and Bond Group— highlights the strength of our vision. This funding empowers us to expand our Web3 banking services, focusing on emerging markets across MENA and beyond. We are especially grateful to the local authorities for their forward-thinking regulatory support under ADGM, which has been instrumental in positioning Klickl as the region’s first fully licensed Web3 banking service, offering crypto custody and brokerage solutions.”

Web3 Klickl receives full VASP license from ADGM UAE

Web3 Klickl receives full VASP license from ADGM UAE

UAE based Klickl International, a regulated open banking and virtual asset platform has announced that it has secured a full license from the Financial Services Permission (FSP) from the Financial Services Regulatory Authority (FSRA) of the Abu Dhabi Global Market. This achievement highlights Klickl’s dedication to tackling challenges across the Web3.0 and virtual asset landscape by developing an integrated financial platform that harmoniously blends traditional finance (TradFi) with the expanding realm of cryptocurrency.

Being founded in Abu Dhabi, Klickl strategically harnesses the emirate’s progressive regulatory environment and dynamic economic backdrop. This strategic positioning enables Klickl to streamline processes, bridging the gap between traditional financial markets and the digital economy. Such an approach not only ensures smoother transitions and improved accessibility but also lays the groundwork for integrating the next one billion users into the Web3.0 ecosystem.

Klickl’s platform is uniquely designed to be destination-agnostic, operating under a decentralized global licensing scheme that empowers users across various jurisdictions. This innovative framework not only advances inclusivity in financial services but also makes a notable impact on the global virtual assets community, facilitating seamless exchanges across diverse financial domains.

Michael Zhao, CEO of Klickl, shared his vision: “Obtaining the FSP license from FSRA marks more than a regulatory milestone; it validates our vision to merge traditional finance and cryptocurrency seamlessly. Our deep-rooted presence in Abu Dhabi, a region renowned for its pioneering strides in financial innovation, has equipped us to pioneer solutions that anticipate and fulfill the diverse needs of today’s global investors.”

Zhao added, “We are grateful for the unwavering support of the Abu Dhabi Global Market and the FSRA. Their forward-thinking regulatory policies are indispensable in our quest to redefine financial infrastructure. As we move forward, Klickl is excited to continue breaking new ground, ensuring the digital economy is accessible, secure, and efficient for everyone.”

With this new licensing, Klickl is set to expand its operations, offering robust, secure, and compliant financial services that are designed to meet the needs of today’s dynamic financial landscape and tomorrow’s digital horizons.

Kikl had receive preliminary approval back in September 2022.