CrossFund Scoops $1.5M in Latest Funding Round at $47M Valuation

Published 6 months ago

In a fourth funding round in two years, fintech startup CrossFund successfully raised $1.5 million from family offices in MENA and Asia, BlockBase Ventures, UI Investments, Australian Gulf Capital, BXB Capital and strategic angels. The rapidly growing company, founded in 2021 by Ben Cardarelli and Davide Cali, has become a favored equity financing tool for startups in SEA and EMEA. It boasts over $40 million raised across 80 investments and 15,000 accredited investors, with its first exit to a NASDAQ-listed company.

Embracing Emerging Markets

CrossFund’s founders have capitalized on their strong base in Asia, focusing on emerging markets with large populations, a young and tech-savvy workforce, low labor costs, and a growing middle class. Their strategy: to invest early in founders and give people access to valuable startup equity in future economies. Ho Chi Minh has become a strategic base, offering exclusive access to promising startups in Vietnam and SEA. The company’s unique proposition, offering equity in international startups from as low as $5,000 with limited fees and no carry, has found favor with investors.

Impressive Portfolio Growth

In just two years, CrossFund’s portfolio has expanded by more than 400%, including high-performing companies such as Clever (APAC), Vulcan (Vietnam), Lipa Later (Kenya), Styched (India), beU(Ethiopia), and Swag Kicks (Pakistan). The company’s success is largely attributed to its use of AI to streamline the vetting and fundraising process, along with its Web3 integrations. The AI component helps match investors with startups based on factors like sector, stage, geographic location, and more.

Leveraging Tech to Disrupt the Industry

Co-founder Davide Cali believes in the power of technology to revolutionize the traditionally low-tech venture capital sector. By combining fundraising with high technology, CrossFund has managed to scale rapidly across various emerging markets.

Eyeing International Expansion

CrossFund sees potential for growth in large, emerging markets, similar to US giants like AngelList, OurCrowd, Republic, and StartEngine. As these established players look towards international expansion, CrossFund is positioning itself as a leader in this wealth transition towards emerging markets. With strong investment hubs in Singapore, HK, UAE, and KSA, CrossFund believes in the rise of Asia and MENA as beacons of innovation.