Waterloo-based Code has closed $6.5 million in seed funding to accelerate the growth of a new global payments platform. The round is led by venture firms such as M13 and Union Square Ventures, with participation from Balaji Srinivasan, Roham Gharegozlou, Anatoly Yakovenko, Raj Gokal, and Mert Mumtaz. Code aims to bring a new global payment platform that supports transactions less than a dollar. The funding will be used to develop and accelerate the growth of this new payments platform.
Ted Livingston, who previously founded Kik, one of the most popular chat apps, is leading Code:
“People all over the world are connecting online to share ideas, create content, and grow communities, but only a small fraction are getting paid for their contributions. That’s not because there isn’t value in these contributions. It’s because existing payments platforms can’t support payments of less than a dollar.
But what if we could empower anyone in the world to charge as little as $0.05 for anything they create online? That would enable a writer in Nebraska to charge $0.25 for one of their blog posts, or a fitness instructor in Brazil to charge $0.75 for one of their workouts, or a teenager in Kenya to charge $0.50 for an AI generated image, and get paid from anyone in the world.”
With the creator economy on the rise, monetization remains a significant challenge for online content creators. Using Code, creators around the world can get paid for micro transactions. The app is currently available on the app store and can be downloaded here.
