BitOasis has reached a key milestone: the MENA region’s digital asset exchange has finalized its Series B round, securing $30 million in capital from international and regional investors.
BitOasis’ investment round has been co-led by Chicago-headquartered VC company Jump Capital, along with contributions from MENA region’s Wamda. New investors that joined the round reportedly include Alameda Research and Global Founders Capital, along with existing investors: Pantera Capital, Digital Currency Group, and NXMH.
“Our aim is to build the largest and most trusted cryptocurrency platform in the region,” Ola Doudin stated.
“And our latest investment round serves as a vote of confidence in the BitOasis growth story. It further speaks to the state of interest in the MENA region’s growing crypto ecosystem, with global investors and venture capital heavyweights backing the region’s home-grown businesses.”
Ola Doudin further revealed that “this new capital is going to equip us with the resources we need to expand our regional presence while ensuring high standards of regulatory compliance.” She added that they “work proactively with regulators across the region and will acquire licenses where available.”
Peter Johnson, Partner at Jump Capital, added that they “are thrilled to be backing BitOasis as they continue to scale the leading crypto platform in the Middle East.”
He thinks that “the company perfectly embodies the elements we seek when investing in international crypto exchanges – an exceptional team that deeply understands the market, a focus on regulatory compliance, and an ability to build a leading consumer brand.”
Fares Ghandour, Partner at Wamda remarked:
“BitOasis is a testament to the fact that you need passionate founders, a solid team, and a culture of unity to build a resilient and world-class business, and that’s exactly what this company is. Wamda is as proud as ever to back the region’s leading and most credible exchange since their inception.”
With geographic expansion plans on the cards for BitOasis, Ola Doudin shared the firm’s growth plans for its existing markets. She also mentioned that they will “be working towards solidifying our presence and refining our product offering in the countries we already operate in.”
The BitOasis team also noted:
“Our team is also working on building strategic partnerships with the public sector to raise the level of awareness around crypto safety in the region. We look forward to sharing more details of our upcoming initiatives very soon.”
With this capital injection, the BitOasis team will “invest in building a future where more people can access the crypto ecosystem, with many joining the cryptocurrency movement for the first time through BitOasis.”
The team is grateful to their partners and investors who “believe in our mission to increase adoption of cryptocurrencies across the Middle East and beyond.” They concluded that we should “watch this space for more exciting news in the coming months.”