Wala Secures Investment from Llew Claasen & Vinny Lingham’s Venture Capital firm Ahead of a Planned Token Sale In October
San Francisco, October 4 2017 — Wala, a blockchain-powered financial services platform for the unbanked and underbanked, has today announced an equity investment from Newtown Partners, the venture capital firm founded by Llew Claasen and Vinny Lingham. Llew Claasen is the Managing Partner of Newtown Partners and also the Executive Director of the the Bitcoin Foundation. Vinny Lingham is best known as the Founder of mobile gift card company Gyft, sold to First Data in 2015 and more recently, Civic, a Silicon Valley-based startup that completed a $33m token sale for a digital identity management platform in July 2017. Newtown Partners previously assisted their portfolio company Augmentors, operating in the augmented reality space, to complete a very successful $1m token sale in February 2017, at the time the largest gaming token sale in the world. The new equity investment in Wala will enable the startup to deliver on the promise of zero-fee financial services for the 3.5bn consumers who are currently excluded from the formal financial system.