Global Outlook 2024 Report


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ParaFai Capital leads USD40m Series B round in OXIO

OXIO, the first telecom-as-a-service platform for brands and enterprises with a white-label, fully-customisable solution to help turn brands into telecom carriers, has raised USD40 million in Series B funding.

The round was led by ParaFi Capital, with participation from Digital Currency Group, Ascend, and Leyden; as well as existing investors Multicoin Capital, Monashees, Atlantico Capital, FinTech Collective; seed investors Allan Green of Candel & Partners; and angel investors from LightShed Partners and Sea Group. 

The Series B follows OXIO’s USD12 million Series A in November 2020, which together with earlier seed rounds brings total proceeds raised to USD65 million to date.

The funding will support OXIO to accelerate its continued growth in Mexico and to launch its business in the largest mobile market in the world, the United States. OXIO’s innovative web3-built technology, combined with the latest funding, strengthens the company’s pioneering role in creating the telecom-as-a-service (TAAS) category.

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