Offline travel app Maps.me has raised $50M (approx €41.3M) in a fresh round of funding led by Alameda Research, a Hong Kong-based investment firm and liquidity provider. Genesis Capital and CMS Holdings also participated in this round.
Use of the raised capital
Reportedly, the new funds will help the company to roll out a multi-currency wallet on Maps.me and enable a decentralised finance (DeFi) ecosystem on the platform. With DeFi, it looks to develop the tool into an “everyday app,” making Maps.me more mainstream.