Rollbit Sponsors FaZe Clan in Multi-Million-Dollar Esports Deal

Hi NoRamp Community,

Daily News:

1) Crypto Bank Sygnum Raises $40M for Expansion and Mergers

2) Telefónica, Nova Labs Roll Out Blockchain Mobile Infra in Mexico

3) Rollbit Sponsors FaZe Clan in Multi-Million-Dollar Esports Deal

4) ModernFi Lands $18.7M to Boost Deposit Network Expansion

5) Gen Z Investing App Alinea Raises $3.4M

Crypto Bank Sygnum Raises $40M for Expansion and Mergers:

• Sygnum AG, a global digital asset bank, secured $40 million in a strategic funding round, surpassing its $35 million goal, with a post-money valuation of approximately $900 million, led by Azimut Holding.

• The funding will enable Sygnum to expand into new markets and enhance its collection of regulated digital asset products and services, building on its financial resilience and success, including achieving an annualized revenue rate of over $100 million and positive cash flow in Q4 2023.

• Sygnum, holding banking and other financial licenses in Switzerland, Singapore, Abu Dhabi, and Luxembourg, caters to a diverse client base with services in digital asset banking, asset management, tokenization, and B2B solutions. The successful funding round affirms its position as a leader in the regulated digital asset industry.

Telefónica, Nova Labs Roll Out Blockchain Mobile Infra in Mexico:

• Telefónica, a global telecommunications giant, has partnered with Nova Labs, the company behind the Helium Network, to use blockchain technology to reduce infrastructure costs and expand mobile coverage in Mexico.

• The initiative involves leveraging Helium Mobile Hotspots to extend Telefónica's network coverage in areas like Mexico City and Oaxaca. These hotspots, which serve as nodes, will help expand coverage, especially in remote areas, by validating wireless activity.

• This integration allows for better connectivity during peak times by offloading data traffic to the Helium ecosystem. Telefónica will maintain control over client activities through its management system, and users will be authenticated via SIM cards. The success of this program in Mexico could lead to its inclusion in Telefónica's mobile networks across various countries.

Rollbit Sponsors FaZe Clan in Multi-Million-Dollar Esports Deal:

• FaZe Clan, a leading esports and gaming organization, has secured a multi-million dollar sponsorship deal with Rollbit, a cryptocurrency gambling platform, to support its top-ranked Counter-Strike 2 team.

• The specific financial details and duration of the sponsorship were not disclosed, but the partnership is focused on the team's activities outside North America, as Rollbit is not accessible to U.S. users.

• This sponsorship is considered one of the largest in the history of Counter-Strike and esports. FaZe Clan, known for its teams in various games and its network of streamers and influencers, was acquired by Gamesquare in October 2023 for $17 million, following a significant decrease in its public valuation.

ModernFi Lands $18.7M to Boost Deposit Network Expansion:

• ModernFi, a fintech based in the U.S., has successfully raised $18.7 million in a Series A funding round, bringing its total funding to over $23 million.

• The funding round was led by Canapi Ventures and saw participation from Andreessen Horowitz, Remarkable Ventures, Huntington National Bank, First Horizon, and Regions Bank.

• ModernFi, founded in 2022 and headquartered in New York City, operates a deposit network designed to help community and regional banks grow, retain, and manage their deposit base. The company also offers extended insurance for depositors through program banks. The latest funding will be used to continue supporting the banking sector, focusing on providing credit and services to financially underserved communities.

Gen Z Investing App Alinea Raises $3.4M:

• Alinea Invest, a fintech app targeting Gen Z women, raised $3.4 million in seed funding, following 225,000 app downloads and a $1.8 million revenue run rate. The New York-based startup is profitable with a six-person team.

• Co-founders Anam Lakhani and Eve Halimi, along with CTO Daniel Nissenbaum, created Alinea during the pandemic. The app, akin to “Wealthfront meets Robinhood,” focuses on an approachable design for young investors, offering automated investing and stock trading on a $120 per year subscription model.

• Alinea's unique features include customizable “playlists” for building personal ETFs around themes and an upcoming AI financial adviser for an additional upscale subscription tier. The company plans to use the funding for product development, including the AI copilot, personalization, and educational initiatives.

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