Lakeba achieves $20M startup sales record for Paid By Coins
Australian technology innovator Lakeba, who has launched over ten new ventures in the Australian market since 2016, announced the $20M sale of their Paid by Coins venture to Mobecom (ASX:MOB) only seven months after launching the platform in early 2018.
“Lakeba built, deployed and exited the Paid By Coins business in less than seven months, achieving what few startups have before them. This accelerated acquisition timeline demonstrates the rigour and depth of Australian innovation and sets a new benchmark for the rapid commercialisation and sale of market-relevant, high demand emerging technology solutions,” said Giuseppe Porcelli, CEO and Founder of Lakeba. Paid by Coins is a secure payment solution for consumers, enabling crypto payments to be automatically converted to Australian Dollars and remitted to any billers on the BPAY network or to any Australian bank account.
The acquisition is a natural evolution of the partnership between Mobecom and Lakeba. In June last year Mobecom announced Lakeba as their blockchain developer partner to build the cryptocurrency solution, AirCrypto for their customer loyalty platform. The business relationship has evolved rapidly since then.