Latham & Watkins Represents Parafi Capital in OXIO, the First Telecom-as-a-Service Platform Utilizing Crypto Tokenization and Web3 Interfaces

OXIO, the first telecom-as-a-service platform for brands and enterprises with a white-label, fully-customizable solution to help turn brands into telecom carriers, has announced it has raised US$40 million in Series B funding. The round was led by ParaFi Capital, with participation from Digital Currency Group, Ascend, and Leyden; as well as existing investors Multicoin Capital, Monashees, Atlantico Capital, FinTech Collective; seed investors Allan Green of Candel & Partners; and angel investors from LightShed Partners and Sea Group. The Series B follows OXIO’s US$12 million Series A in November 2020, which together with earlier seed rounds brings total proceeds raised to US$65 million to date. The funding will support OXIO to accelerate its continued growth in Mexico and to launch its business in the largest mobile market in the world, the United States.

Latham & Watkins LLP represented ParaFi Capital in the transaction with a deal team led by New York partner Jenny Cieplak, Bay Area partner Haim Zaltzman, and New York associate Ian Irlander.