+

Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Close
HomeQuizzoneWhatsappShare Flash Reads
 

A startup that wants to be the Airbnb for your stuff raised $25 million in a cryptocurrency and cash fundraising round

Jan 17, 2018, 02:30 IST

Omni

Advertisement
  • Omni, a California storage startup, raised $25 million in a fundraising round led by two cryptocurrency executives and Highland Capital Partners.
  • A majority of the money raised by the firm will be in Ripple's XRP.

Two cryptocurrency executives are backing a California startup that wants to be the Airbnb of your stuff.

Omni, a company that allows people to rent out their extra stuff, landed $25 million in a fundraising round, the company announced Tuesday.

Ripple's Chris Larsen and Stefan Thomas led the fundraise, contributing the majority of the amount raised, alongside Highland Capital Partners, a spokesperson told Business Insider. The two executives' contribution was made in Ripple's XRP cryptocurrency.

Advertisement

Ripple itself did not participate in the fundraise, but the financial technology company plans to serve as a strategic partner to Omni.

NOW WATCH: Netflix is headed for a huge profit milestone in 2018

Next Article