New funds are being allocated for the launch of a multi-currency wallet on Maps.me that will allow for a decentralised finance (DeFi) ecosystem on the app. DeFi aims to grow the platform into an ‘everyday app’.
Your favourite offline maps with exciting new features on the way! pic.twitter.com/GvUIIVvhE1
— MAPS.ME (@MAPS_ME) January 20, 2021
Developed in Belarus and Switzerland, the earlier ‘MapsWithMe’ phone application was transformed into ‘Maps.Me’ after 2014 when the Mail.Ru group acquired it. The app is tailor-made for IOS and Android with its distinct offline feature.
The Fintech Zoom survey suggests that over 58% of Maps.me users come from the European continent and more than 70% are between the age group of 18 and 40.
From providing GPS support to making the offline search easier during travel, the app has an easy to understand interface and accurate satellite information for its travel enthusiasts across the world.
With 140 million users worldwide, the offline mapping app, Maps.me strives to create a decentralised finance ecosystem inside the navigation app.
In a funding round led by Alameda Study and joined by new investors, cryptocurrency lender Genesis Capital and crypto company CMS Holdings, Offline travel app Maps.me raised $50 million.