Abra, a Mountain View, CA-based mobile app to send and receive money around the world, closed a $14m Series A financing round.
Backers included Arbor Ventures, RRE Ventures and First Round Capital.
The company intends to use the funds to finalize the development of and launch the app.
Led by Bill Barhydt, Founder & CEO, Abra is a mobile cash app that enables anyone to store digital cash, valued in any currency, directly on a phone with no bank required. It leverages a network of Abra Tellers — individuals or businesses who facilitate the buying and selling of digital cash.
The company will soon announce the general availability of the Abra App (on Android and iPhone) in its initial launch markets. To date, pre-registrations for consumers and Tellers have come from over 80 countries.
Investors in Abra also include Blockchain Capital, Carthona Capital, Cyanotype, Digital Currency Group, Future Perfect Ventures, Haystack, Jungle Ventures, The Launch Fund, Lehrer Hippeau Ventures, Liberty City Ventures, NYCA, and Pantera Capital.