We’re proud to announce today that ComiBlock has officially raised an undisclosed financing round from Expert Dojo, a California-based growth accelerator that has invested in over 200 companies around the globe. This new funding will enable us to expand our operations and invest in product development as we build to accelerate responsible crypto investing for everyday people across the frontier markets.
It’s also a tremendous vote of confidence in ComiBlock, a startup that is building a retail crypto investment management platform aimed at the new generation of “everyday investors. Coming on the heels of the market downturn, we have reached some milestones since our private pilot, from $200 to over $420k trade volume on the ComiBlock platform.
According to Gemini's 2022 Global State of Crypto report, actionable education is the most significant global barrier to crypto adoption. According to the study, 40% of African respondents had not purchased any cryptocurrency because they did not understand it. Other barriers to Crypto adoption included a lack of trust and understanding of crypto price volatility.
“Most crypto platforms are structured as an exchange and leave most retail users with a black box experience, which is unhealthy for many reasons. On top of that, most crypto exchanges see the average users as just an anonymized dollar value." ComiBlock co-founder and CEO Dennis Mary. " These black box experiences have promoted an irresponsible and toxic investing culture. We’re rebuilding it entirely. The exchange model is an old factory. ComiBlock effectively a new factory.”
"It's easier than ever to buy crypto. And getting tougher to find sound crypto investing advice, we are here to level the playing field" Dennis Mary
Early this month, we launched our public beta, and we believe that younger generations are embracing more risk in investing, that they demand easy-to-navigate, mobile-first interfaces and transparency and that they want to deeply understand how what they are investing their hard-earned capital in and participate in the learnings from that process.
That's why we're working hard to create a new-guard active crypto digital adviser platform that provides users with personalized managed portfolios, as we aim to save users from the typical pain points of crypto investing, freeing them to enter the crypto space with more confidence.
Developing products to make crypto asset investing more transparent and better is foundational to the future of Web-3. And ComiBlock is playing a crucial role as a crypto-digital adviser by building forward-thinking investing tools for everyday investors across Africa. We are consistently impressed by ComiBlock’s product vision, execution, and team, and we are excited to support them on their journey.
Our recent funding from Expert Dojo is another sign of the faith and trust that our customers, partners, and investors have in ComiBlock. We’re honored that they’ve come on this journey with us.