Square Enix Backs Fintech Startup Zebedee In A $35 Million Round

According to a press release, gaming-focused fintech startup Zebedee has raised $35 million in a Series B funding round led by Kingsway Capital.

Funding was also provided by Final Fantasy and other video game studios Square Enix, The Raine Group, existing investors Initial Capital, and Lakestar.

Zebedee is focused on the gaming industry and allows game developers to integrate support for the Bitcoin Lightning Network micropayment network.

In early 2021, the startup demonstrated this capability in Valve’s Counter-Strike: Global Offensive shooter. Players could receive rewards in bitcoin for participating in online matches.

In September of the same year, Zebedee closed an $11.5 million Series A round. According to the startup, the user base grew tenfold during this time. With the latest funding, the project raised about $50 million.

“We are pleased to be able to confidently scale our team and grow our business even as macro conditions become increasingly uncertain,” said Zebedee CEO Simon Cowell.

Recall that in April 2022, Square Enix President Yosuke Matsuda announced the company’s interest in blockchain and NFT.

In May, the company announced plans to use part of the proceeds from selling $ 300 million in intellectual property rights to fund blockchain, AI, and cloud technologies initiatives.

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