Romanian startup ZoidPay secures an investment commitment of $75M. The company is currently in the advanced stages of acquiring a bank to transition to the next generation of Web 3.0 financial services.

Update: With the new funding, the Romanian startup ZoidPay is preparing to acquire a traditional bank from Lithuania. „We are currently in the final stage of buying a bank that has locations, employees, a counter where you can go to get a loan, that has ATMs. (…) It is about a bank from Lithuania, we have not announced much yet, we are in the final stage. We passed the due diligence part.„, said Eduard Oneci, co-founder and CEO of ZoidPay, exclusively for ZF.

A $75M financial commitment is set to establish ZoidPay as the go-to open architecture for building the next generation of Web 3.0 financial services.

ZoidPay, the leading Web 3.0 architecture provider, has secured an investment commitment of $75M from digital asset investment firm GEM Digital Limited („GEM”). „The funding is aimed at developing the go-to open architecture for building the next generation of financial services, scaling the first on-demand Metaverse, facilitating the first-ever bank acquisition by a blockchain firm, and launching a Web 3.0 super App.” – according to the press release.

Since its launch in 2018, ZoidPay has established itself as a one-stop crypto liquidity solutions provider, enabling instant card issuance for purchases from any merchant at the lowest fees. With this expertise, ZoidPay is now gearing up to release a full suite of Application Programming Interfaces (APIs) and Software Development Kits (SDKs) for B2B clientele aiming to build the next-gen of Web 3.0 Financial Service Apps and dApps.

Eduard Oneci, CEO & Co-founder at ZoidPay, stated „The investment from GEM is a massive validation of what we are striving to achieve at ZoidPay. To have the financial commitment of one of the leading global alternative investment groups is the ideal backing we need to manifest a roadmap that will etch ZoidPay as the backbone of the Web 3.0 open architecture.”

Harnessing the Full Power of Web 3.0

Currently, in the advanced stages of acquiring a Digital Bank, ZoidPay will help transition all Traditional Finance services to Decentralized Finance by harnessing the power of Web 3.0.

For end users, this would make High-Yield Index Accounts accessible, marking the switch from legacy to digital, and monopoly to decentralization. Web 3.0 loans would let a retail user avail of instant loans in any FIAT currency based on all digital assets that one may hold, NFTs included.

All of these offerings will eventually culminate into one of the most exciting upcoming fintech apps, ZoidPay’s Web 3.0 Super App. Billed a „Fintech PowerHouse” for Crypto and traditional Financial Services, the app will bring cards, Bank Accounts, Crypto, Bills, Investments, Insurance, and Loans into one place.

The app promises to extend retail users’ the convenience of switching their financial habits into autopilot mode. It will combine the security, control, and flexibility of traditional banking with the speed and connectivity of modern technology.

Eduard continues: „By the end of the first quarter of 2023, we aim to become the biggest Web 3.0 architecture provider in the world. This comes after years of putting together the building blocks towards that direction, including forging partnerships, developing the tech, and putting together an extremely capable team. The investment from GEM now acts as a catalyst in our current phase of Hyperscaling.”