Payment platform Keeta has announced securing 17 million dollar funding in its drive to launch global operations officially. Based in the United States, Keeta’s technology seeks to reshape the financial technology industry by providing fast and secure transborder payments. The company has got its investment backing from Steel Perlot Management and Eric Schmidt. Investments are crucial to the survival of every startup as it covers the operational cost.
The financial service industry has been revolutionized in the past decade as technological solutions take pole position in its ecosystem. However, this ecosystem presents harsh realities for many new players. According to DemandSage, 30-40% of startups fail, and investors lose their capital. Nevertheless, fueled by its funding, Keeta seeks to focus on new areas of market concentration, such as empowering customers with cheaper costs of transactions. Payments on the platform will be over 50-70% cheaper than the cost of traditional banks.
This investment significantly boosts Keeta as it fuels its resilient desire to improve entrepreneurial activities as its offerings target financial institutions and fintechs. The long-term goal for Keeta is to improve the digital financial industry and ultimately rise above big players like PayPal’s Venmo.
United States in focus:
Population: 331.1 million in 2020 as compared to 329.5 million in 2020
GDP: $23.32 trillion in 2021 compared to $21.06 billion in 2020
GDP per capita: $70,248 in 2021 compared to $63,530 in 2020