Blum

Blum

Decentralized exchange for efficient cryptocurrency trading

About Blum

Simplify's Rating
Why Blum is rated
B+
Rated B on Competitive Edge
Rated A on Growth Potential
Rated B on Differentiation

Industries

Consumer Software

Crypto & Web3

Company Size

51-200

Company Stage

Seed

Total Funding

$5M

Headquarters

Dubai, United Arab Emirates

Founded

2023

Overview

Blum provides a decentralized exchange platform that enables efficient cryptocurrency trading through an off-chain orderbook and on-chain settlement. Users can connect popular wallets like Trust Wallet and MetaMask to execute trades in a single transaction, avoiding gas fees and chain switching. The platform also supports localized P2P trading and offers a unique trading experience via Telegram, making it mobile-friendly and engaging. Blum aims to simplify the trading process for users interested in decentralized finance while generating revenue through transaction fees.

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Significant Headcount Growth
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Simplify's Take

What believers are saying

  • Blum raised $5 million to enhance its platform and expand multichain support.
  • Partnerships with Binance and others boost Blum's credibility and user base.
  • AI-driven trading bots provide personalized strategies, enhancing user engagement and retention.

What critics are saying

  • Increased competition from similar decentralized exchanges could dilute Blum's market share.
  • Regulatory scrutiny on cryptocurrency trading platforms may impact Blum's operations.
  • Reliance on Telegram poses risks if the platform changes policies or faces challenges.

What makes Blum unique

  • Blum offers seamless wallet integration with Trust Wallet and MetaMask for efficient trading.
  • The platform supports localized P2P trading, enabling transactions in local currencies.
  • Blum's Telegram-based trading features gamified mechanics for an engaging user experience.

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Funding

Total Funding

$5M

Above

Industry Average

Funded Over

1 Rounds

Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.
Seed Funding Comparison
Above Average

Industry standards

$3.3M
$2M
Netflix
$2.3M
Instacart
$3M
Robinhood
$5M
Blum

Benefits

Flexible Work Hours

Unlimited Paid Time Off

Remote Work Options

Professional Development Budget

Growth & Insights and Company News

Headcount

6 month growth

↑ 18%

1 year growth

↑ 46%

2 year growth

↑ 46%
Tech Startups
Feb 27th, 2025
Funtico’S Cpo Pavel Antohe Joins Panel With Industry Leaders At Aibc 2025

Dubai, UAE, February 27th, 2025, ChainwireFuntico’s Chief Product Officer, Pavel Antohe, took center stage at AIBC 2025 in Dubai, participating in the high-profile panel ‘PLAY-TO-EARN: THE BEST STRATEGIES FOR DECENTRALIZED PLATFORMS AND SOCIAL MEDIA.’ Joined by Sam Shami of Cointelegraph and Gleb Kostarev of Blum.io, the discussion delved into the evolving landscape of Play-to-Earn (P2E) gaming and its future sustainability.Navigating Challenges in the Play-to-Earn SpaceThe P2E sector has faced significant turbulence, with over 30% of blockchain gaming projects either discontinued or cancelled in 2023. Many projects struggled with sustainability, user retention, and economic balance, leading to a critical reassessment of the strategies needed to ensure long-term success. Amidst these setbacks, Pavel Antohe shared valuable insights on the importance of community engagement, asset ownership, and hybrid approaches bridging Web2 and Web3 as key drivers for the industry’s revival.The Path Forward: Merging Web2 and Web3 for Sustainable GrowthRecognizing these challenges, Antohe highlighted that the key to revitalizing the sector lies in a more structured and adaptable approach. During the panel, he emphasized that the next wave of successful P2E games will depend on:Stronger Community Engagement: Building trust through meaningful interactions and incentives.Building trust through meaningful interactions and incentives. True Digital Ownership: Ensuring players have full control over their assets to foster long-term investment.Ensuring players have full control over their assets to foster long-term investment. Hybrid Integration: Merging familiar Web2 experiences with the advantages of Web3 decentralization.By combining these elements, developers can create more sustainable ecosystems that attract both traditional gamers and blockchain enthusiasts, bridging the gap between Web2 and Web3 gaming.Funtico’s Vision for the Future of Web3 GamingFuntico remains committed to innovating and shaping the future of decentralized gaming

Wamda
Feb 15th, 2025
Blum raises $5 million in dual rounds, led by Gumi Cryptos Capital

UAE-based fintech Blum raised $5 million in a pre-seed and seed round.

BeInCrypto
Feb 13th, 2025
Blum Raises $5M for AI Trading

Blum, a Telegram-based decentralized exchange, raised $5 million in a funding round led by gumi Cryptos Capital, with participation from Spartan, OKX Ventures, and others. The funds will enhance Blum's trading platform, including multichain support and expanding its trading bot, which has over 1 million users. Blum's transition from a tap-to-earn to a trade-to-earn model aims to maintain user engagement amid declining interest in tap-to-earn games.

Desk3
Feb 12th, 2025
Telegram ecosystem trading app Blum completes $5 million Pre-Seed and seed round financing, led by gumi Cryptos Capital

On February 13th, Telegram ecosystem trading app Blum completed a $5 million Pre-Seed and seed round financing, led by gumi Cryptos Capital, and participated in the investment by YZi Labs, The Spartan Group, No Limit Holdings, OKX Ventures, The Open Platform, Bitscale Capital and Wintermute Ventures.

CryptoNewsZ
Sep 13th, 2024
Binance Invests in Telegram’s Mini-App Blum as a MVB Winner

Leading crypto exchange Binance has announced that it has invested in Telegram’s mini crypto-trading app Blum as a MVB winner.

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