Deutsche Telekom and Global Asset Managers Invest in Ponto
The 18-month-old startup run by senior finance and technology executives received a series of investments from the strategic investment fund of telecommunications operator Deutsche Telekom and private wealth managers including the Forbes Family Trust, in conjunction with the Stanhope FFT Venture Fund, a multifamily office and a Stanhope Capital Group Company.
With $30m total financing, Ponto will continue expanding operations at its American and European headquarters. In March of this year, Ponto received $20m in seed financing from global venture capital firms.
The executive team behind Ponto includes leaders from tech firms Apple, Block, and Stripe and financial institutions J.P. Morgan, Revolut, and Visa.
Ponto CEO Will Haering said the investment from Deutsche Telekom is “the expansion of a deep and lasting partnership between our businesses.”
Deutsche Telekom COO Raphael Kübler stated, “Ponto’s technology fills an immediate need supporting Deutsche Telekom’s next wave of consumer innovation.”
The Ponto platform gives leading wallets, mobile carriers, and banks seamless access to digital assets and virtual economies. After receiving key regulatory approvals, the startup is launching public operations with early enterprise customers this fall.
Deutsche Telekom is one of the world’s leading integrated telecommunications companies, present in more than 50 countries.