Crypto software firm Zabo raises $2.5M in seed funding

Quick Take

  • Software firm Zabo, which helps financial services companies connect to customers’ crypto accounts, has raised $2.5 million in seed funding
  • The round was led by Moonshots Capital, with participation from existing investor Blockchange Ventures, and others
  • Zabo co-founder and president, Alex Treece, told The Block that the firm plans to grow its engineering team.

Zabo, a software-as-a-service startup that connects financial services companies to customers' cryptocurrency accounts, has raised $2.5 million in a seed funding round.

The round was led by Moonshots Capital, with participation from existing investor Blockchange Ventures, as well as Digital Currency Group, CoinShares, Tezos Foundation and others.

Zabo began raising for the round in September 2019, the firm's co-founder and president, Alex Treece, told The Block. "The round was oversubscribed and we ended up increasing the size after about a month or two," he explained.

With the fresh capital in hand, Texas-based Zabo plans to grow its engineering team and customer base, according to Treece.

"Today the team is five people