GrabrFi has raised US$6 million in its first announced funding round led by Bling Capital, with participation from BDev Ventures. The company gives people outside the United States a way to get paid, hold, and spend US dollars. It has processed more than US$1 billion in payments since launching in 2023.
Funding details
The round brings GrabrFi's total raised to US$11 million. GC1 Ventures, Firebolt Ventures, Cambrian Ventures, and TA Ventures also participated. Angel investors Gokul Rajaram, Ben Silbermann, and Aarthi Ramamurthy joined the round.
Customer base
More than 100,000 accounts have been opened. Argentina and Nigeria are the largest markets, with Mexico, Colombia, and Brazil growing fastest. More than 1,000 US businesses now pay contractors and employees directly into GrabrFi accounts.
What users get
Customers can open an account with an ID and phone. They receive US account details, a dollar balance, a card, and a stablecoin wallet address. GrabrFi serves freelancers, remote workers, and businesses outside the United States.
GrabrFi will use the funding to launch business accounts for startups and small companies outside the US. It plans to add euro accounts. It also plans to offer credit based on dollar income and spending records.