- Wind raised $3.8M to leverage blockchain for faster, cheaper global money transfers.
- Wind uses Polygon network and stablecoins to facilitate cross-border remittances for under 0.3% fee.
- After 2022 launch, founders now aim to expand Wind’s blockchain-powered, user-controlled payment network globally.
Wind leverages blockchain and stablecoins to offer cheap, fast overseas money transfers under users’ control
Wind co-founders from Pathao
Bangladeshi entrepreneurs Hussain Elius and Ahmed Fahad, best known as co-founders of leading super app Pathao, recently secured $3.8 million in seed funding for their latest venture – blockchain-powered fintech startup Wind.
The round was led by global investment firms GFC and Spartan Group.
Wind aims to leverage blockchain technology to open up payment corridors and make international money transfers faster, easier and more affordable worldwide.
The company uses the Polygon network to allow customers to easily convert currencies to stablecoin cryptocurrencies and send funds across borders for a fraction of the fees charged by traditional remittance providers like Western Union or MoneyGram.
Wind’s vision for blockchain-powered transfers that revolutionize remittances
Currently focused on facilitating transfers between Southeast Asia and the US, Wind charges less than 0.3% per transaction while competitors average fees around 1%. The non-custodial nature of Wind’s wallet system allows users to control their assets while transacting fully.
Elius, Wind’s CEO, said the fresh capital will focus heavily on compliance capabilities and licensing to operate globally. The funds will also further develop Wind’s product suite.
“Anyone anywhere in the world can open an account and start receiving money,” Elius explained. “This allows us to target all over the world.”
Ambitious plans for global expansion on the horizon: Wind.
After launching just last year, Wind’s founders aim to expand its footprint aggressively. Other Wind executives include blockchain engineer Arman Bhuiyan and former Brankas business development lead Simo Figuigui.
With growth accelerating, Wind aims to become a top global choice for affordable, user-controlled remittance and currency conversion services into 2024 and beyond.
The startup represents Elius and Fahad’s next chapter after founding Bangladesh-based Pathao, which has quickly become one of Southeast Asia’s most diversified super apps covering transport, food delivery, e-commerce and financial services.
