NEM Ventures makes first portfolio investment with Vimba
- Vimba is a New Zealand-based crypto savings platform provides a simple way to buy and save Bitcoin and Ethereum on a weekly basis.
- Vimba has around 6,000 customers and has recently expanded into the UK as the first service to allow immediate FIAT to Crypto deposits via the core UK banking network.
The venture capital and investment arm of the NEM blockchain has made its first portfolio investment with Vimba. Vimba is a New Zealand-based crypto savings platform which allows customers to invest in increments of crypto as small as $10 up to $2000 NZD in a four-week period.
Vimba has around 6,000 customers and has recently expanded into the UK as the first service to allow immediate FIAT to Crypto deposits via the core UK banking network, beating out Coinbase in the process.
Regarding the investment, Dave Hodgson, director and co-founder of NEM Ventures, said:
“This investment recognizes the vision and value of Vimba in providing an on-ramp to fiat for the NEM community, and we are proud to be helping such a forward-thinking project scale sustainably.
Vimba’s services are the beginning of a larger vision to build a crypto-first banking model, which could offer all the services expected of a fiat bank, encompassing earning interest on savings, collateralized debt, stable coins, and loans. We look forward to seeing what the project achieves in 2019.”
Sam Blackmore, the Founder and CEO of Vimba, said:
“NEM is a quality community driven project, run by the people for the people, which aligns with the ethos at Vimba. The investment is going to enable Vimba to grow into new regions, develop the platform further, providing a safe and trusted gateway to the new economy.”
Author
Rajarshi Mitra
Independent Analyst
Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.
