Num Finance Raises $1.5M, Seeks To Bridge The Finance Gap In Emerging Markets

Num Finance, a financial company specializing in local stablecoins, is basking in the afterglow of a pre-seed funding round. The company, committed to advancing financial operations in emerging markets - initially Latin America, announced a raise of $1.5 million, with investments from entities such as Reserve, H20 Scouter Fund, VC3, Ripio Ventures, and Auth0's CTO, Matias Woloski.

Num Finance's flagship offering, the Num Network, harnesses a diverse portfolio of financial products and stablecoins to streamline business operations. The network capitalizes on returns, loans, and digital assets facilitated by local ramps and tokens. Utilizing the fresh inflow of capital, Num Finance plans to venture into new territories such as Colombia and Brazil, and explore burgeoning markets in Latin America, North Africa, and Asia. The firm also aspires to broaden its real-world asset offering, starting with tokenizing money market financial instruments.

Agustín Liserra, CEO of Num Finance, reflected upon the successful funding round with optimism. Despite the arduous task of capital-raising in the current economic climate, the investors' endorsement of the long-term vision of the project has been both gratifying and reaffirming. Num Finance is eager to seize the opportunities of tokenizing real-world assets and making them universally accessible via public networks, setting the stage to bring state-of-the-art financial technology to regions where conventional finance continues to lag, Liserra said.

Established in 2021 by DeFi enthusiasts, Num Finance had a successful first year with the launch of its maiden tokens. The tokens nARS, pegged to the Argentine peso, and nPEN, associated with the Peruvian sol, achieved a total circulation value of $2.5 million. With the recently accrued capital, the company plans to introduce new stablecoin tokens for the Brazilian Real, Colombian Peso, Mexican Peso, and Dinar Bahrain, further establishing its presence in the Middle East.

Liserra said the company will now seek to leverage the expertise of investors and advisors to steer the next phase of its journey. Two notable figures aiding the Num team in their global strategy are Ariel Arrieta, managing partner of NXTP Ventures, and Gastón Irigoyen, founder of the Argentine fintech solution startup, Pomelo.

Nevin Freeman, co-founder of Reserve, a platform that combats inflation through its stablecoin, $RSV, expressed enthusiasm about backing a project with immense potential. He believes that Num Finance's objectives dovetail with Reserve's vision of supplying superior financial tools to individuals and businesses in emerging markets.

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