Magic announces $52M Strategic Funding Round led by PayPal Ventures
SAN FRANCISCO, May 31, 2023 /PRNewswire/ -- Magic, the leading wallet-as-a-service (WaaS) provider, today announced it has raised $52 million in a strategic funding round led by PayPal Ventures, with participation from Cherubic, Synchrony, KX, Northzone, and Volt Capital. The new round brings the total raised to more than $80M.
- SAN FRANCISCO, May 31, 2023 /PRNewswire/ -- Magic , the leading wallet-as-a-service (WaaS) provider, today announced it has raised $52 million in a strategic funding round led by PayPal Ventures, with participation from Cherubic, Synchrony, KX, Northzone, and Volt Capital.
- Magic's customers are some of the most trusted brands across retail, music, fashion and gaming including Mattel, Macy's, Xsolla, Immutable, and more.
- "Mass adoption of web3 is a hot topic, and Magic is facilitating this with a safe and simple solution," said Alan Du, Partner at PayPal Ventures.
- To date, Magic has generated more than 20 million unique wallets and its SDK is used by over 130,000 developers.