The fintech and bitcoin payment processor Zebedee announced the company has raised $35 million from Kingsway Capital, Square Enix, and others.
Zebedee detailed on Tuesday that it has crafted a platform that allows any developer to add programmable money functionality into games. The platform can make it so that “anything that happens in a game can trigger a payment, which is sent instantly and at nearly zero cost.”
For instance, “when a player shoots someone in a competitive CS:GO match, they can take a small amount of money from them in real-time inside the match itself,” Zebedee explained. The fintech firm said that it offers API-based tools for software developers and an application for gamers. The payment platform for games created by Zebedee leverages the Lightning Network as a part of the project’s payments infrastructure. “We are pleased to be in a position where we can confidently scale our team and grow our business even as the macroeconomic backdrop becomes increasingly uncertain,” said Simon Cowell, CEO of Zebedee.
Since the company’s initial fundraise for $11.5 million last September, Zebedee said the company’s user count has increased by more than 10X. Zebedee detailed that it’s a fintech company that is focused on gaming and bitcoin is “simply the payment rail that enables the flexible, programmable transfers of any amount between any game, app or user.”
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