Instagram Competitors Raise $150K In Seed Funding Through Forex.com Founder
The parent company of Belacam recently received a $150k seed investment from Mark Galant, the founder of GAIN Capital / Forex.com. After a year and a half of development, The Ambia Fund is launching Belacam.com on July 20th, 2018.
Belacam is a cryptocurrency-based social media site similar to Instagram where users earn $.05 – $.10 for each ‘like' that they get on their photos. It is a standalone photo-sharing site which makes use of an automated micropayment system to send a small amount of money from one user to another with each ‘like’.
As a site and soon-to-be app, anyone can interact with a cryptocurrency in a seamless and hassle-free way, earning it for each ‘like' on their photos. It creates a new world where an artistic picture of your lunch earns money that can pay for the lunch itself.
Belacam had been looking for funds to promote the product of potential users and expand the team. As the founder of GAIN Capital/Forex.com, Galant grew his company to a valuation of over $1 Billion and an IPO on the New York Stock Exchange. Forex.com is on pace to handle nearly $3 trillion in 2018 retail foreign exchange volume.
GAIN Capital operates the Forex.com system, which has clients in 140 countries. Prior to forming the company, Galant helped build FNX into a leading provider of trading and risk management systems. Before that, he was global head of foreign exchange options trading at Credit Suisse.
The Ambia Fund says that projects like Belacam will pull the markets up again. “The 2017 cryptocurrency bubble was driven by speculation,” CEO Tyler Marx says. He argues that the next bull run will be driven by people interacting with crypto in their daily life.