Coinomo Crypto Wallet App Officially Presents in Indonesia After Receiving Funding

Coinomo, a company born after Turn Capital acquired Dapp Pocket (a Taiwanese crypto wallet player) and Cappuu (a service yield aggregator), revealed that it had received fresh funds with an undisclosed amount led by Vertex Ventures Southeast Asia & India (Vertex Ventures SEAI). Simultaneously, the beta version of the Coinomo application was released for the Indonesian and Taiwanese markets.

A number of investors participated in this round, including zVentures (a Razer venture company), Spartan Group (an advisory firm for blockchain and digital asset management), Leo Cheng, and Venture Dao (decentralized autonomous organization/A community-based investment DAO made up of business founders). Previous investor Turn Capital also participated in the round.

Vertex Ventures SEAI partner Genping Liu said, "We see an increase in interest and continuous innovative applications in the crypto space. Coinomo allows retail investors to easily participate in the ecosystem according to their return on investment profile. This provides significant value by abstracting away complexity and confusion for the general retail user, while also reducing the risk of many projects.

“Vertex sees this as an infrastructure game to facilitate the further development of the cryptocurrency ecosystem. We have known and worked with Joseph and Evie for many years, so we are delighted to be able to support them again in this new venture." Coinomo is Vertex Ventures SEAI's second investment in the crypto industry after Binance Asia.

Razer zVentures Investment Director Cho Weihao added, “Cryptocurrencies have been gaining popularity among young people and millennials in recent times. As the world's leading lifestyle brand for gamer, most of whom are millennials, Razer zVentures supports Coinomo's efforts to create value in this area, as well as evaluating a number of potential synergies.”

Coinomo CEO Evie Zhang said the company wanted to bring its expertise in consumer products to Coinomo. In consumer products, it is closely related to two main elements, namely easy to use and fun which must always be there. "We keep it in mind to apply to every detail and feature in our product designs."

Coinomo App

Coinomo works closely with licensees in each country, aiming to become the largest and most used crypto gateway in Southeast Asia. In this region, there is a potential of more than 665 million people as potential Coinomo users. Coinomo app version beta has a feature that allows users to buy and sell cryptocurrencies and participate in the products of various products investment return profile (Challenge).

With an intuitive interface that guides and directs users more easily, users don't have to spend days learning or getting comfortable with crypto products and spaces. In this beta version, Coinomo offers two product yields, providing a glimpse of more products in the future that are scalable, as well as compliant with a number of risk and return requirements from customers.