Digital wallet startup My Digital Wallet has raised $5 million in Series B funding led by a group of investors led by Digital Currency Group, according to its website.
The company says the funding will go towards increasing its merchant adoption, improving the app’s security and improving its ecosystem.
The team says the funds will be used to expand the company’s network and increase merchant adoption.
My Digital Wallet aims to be the most reliable, convenient, and secure way to send money to friends and family.
My Digital wallet lets users send and receive money using a PIN, QR code, or a combination of these technologies, according the company.
The app will also enable users to add gift cards and debit cards to the account.
The mobile app has a built-in QR code scanner.
MyDigitalWallet’s main goal is to improve its merchant network by offering more payment options, making the app more secure, and expanding its merchant app with more merchants.
The startup says the additional funding will help it grow its merchant base and expand its merchant apps.
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