Los Angeles-based cryptocurrency startup Good Money announced the closure of a round of funding for Series A, in which it raised $ 30 million.
The round led Mike Novogratz' cryptobank Galaxy Digital through his Galaxy EOS VC Fund.
Other investors in the project were venture capital funds Breyer Capital, Blocktower Capital, Boost VC, Blockchange Ventures, Cross Culture Capital, as well as a number of individual investors.
Good Money calls itself the world's first digital banking platform owned by its customers and aims to democratize the banking industry, using the profits to change the world for the better.
In particular, the startup plans to act as a bank, each client of which owns a certain number of securities. Good Money plans to deploy a network of commission-free ATMs throughout the United States, as well as offering zero overdraft fees and deposits insured by the Federal Deposit Insurance Corporation (FDIC) at 2% per annum.
Fully functioning application, through which the platform will operate, the company plans to release in 2019. The application will support a mobile cryptocurrency wallet, offering additional incentives for attracting friends and direct deposits.
In addition, representatives of a startup say, 50% of all profits will be directed to projects aimed at eliminating social and economic inequalities, protecting the environment, renewable energy sources and philanthropy.