Y Combinator-backed Wed3 startup Poko secures $4.5M in funding from notable investors.

Poko (Pokoapp.xyz), an innovative Singapore-based Web3 startup backed by Y Combinator, proudly announces the triumphant conclusion of its seed round. The company has successfully raised an impressive $4.5 million in funding.

In an official statement, Poko reveals that the round was spearheaded by renowned investors strategically chosen from its key focus regions. Notable participants include Y Combinator, NAZCA, Global Founders Capital, Orange DAO, SOMA Capital, and Goodwater Capital.

The funds raised by Poko will be directed towards the development of groundbreaking products. Among these ventures is an ambitious USD yield-bearing software development kit (SDK) and protocol, which showcases the company’s commitment to innovation and growth.

With unwavering confidence, Poko, a Y Combinator-backed startup, is currently in beta testing for the issuance of virtual cards on Visa/Mastercard rails from wallets, alongside the development of a cash savings product that allows users to earn a yield on stablecoins.

The Poko team firmly believes in democratizing web3 access for users worldwide. They have created SDKs and APIs that equip users with the essential tools to effortlessly transfer assets from local payment rails to web3 infrastructure, seamlessly integrating global card payments and popular local payment methods.

Poko’s ultimate objective is to empower wallets and web3 infrastructure with remarkable banking capabilities. The support and guidance provided by Poko’s investors have been instrumental in understanding and meeting market demands, forging valuable partnerships, and connecting with leading startups within the web3 ecosystem.

Poko specializes in facilitating the smooth transfer of assets between local payment rails and web3 infrastructure. Through innovative SDKs and APIs, they bridge the gap between traditional payment methods and web3 infrastructure, catering to over 11 million active wallets worldwide.

Their business-to-business-to-consumer (B2B2C) model targets web3 wallets, wallet-as-a-service providers, marketplaces, DApps, DeFi applications, and games. This model enables seamless onramping and purchasing from smart contracts across more than 100 payment rails.

Impressively, Poko’s Onramp Aggregator and Direct Checkout solutions deliver up to 70 percent cost savings and up to 5 times higher success rates compared to traditional onramps. Their user base spans across the globe, with key markets including the United States, European Union, Latin America, and Asia. Notably, Latin America and Asia showcase remarkable growth potential for Poko.

The Poko team boasts extensive expertise in the web3 space, with backgrounds encompassing leadership and founding roles in a $2.4 billion coincap protocol, technical implementation for the Monetary Authority of Singapore’s Project Ubin, authorship in the Digital Currency Governance Consortium at the World Economic Forum, and proficiency in banking, payments engineering, and web3 gaming.

Poko values the pivotal role played by its investors in their growth strategy, leveraging their insights and connections within their respective markets. These investors, such as Y Combinator, NAZCA, Global Founders Capital, Goodwater Capital, SOMA Capital, Amasia, Creditease, Dentsu Ventures, MS&AD, and Orange DAO, bring deep regional expertise to assist Poko in navigating the global industry locally.

Furthermore, Poko has attracted angel investors with extensive regulatory knowledge in web3, including Sheila Warren, Chief Executive Officer of the Crypto Council for Innovation, and international arbitrator Benjamin Hughes, solidifying their position as a trusted and reputable company in the industry.


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