Former Diplomat Trevor Traina Raises $25 Million for Web3 'Entirely Goof-Proof' Super App

Latest Funding News

On March 7, 2023, serial entrepreneur and former US Ambassador to Austria Trevor Traina raised $25 million for a Web3 super app called Kresus. The Series A round was led by Liberty City Ventures, with other investors including JetBlue Ventures, Craft Ventures, Franklin Templeton, and angel investors such as Salesforce founder Marc Benioff and Winklevoss twins.

Kresus is a Web3 super app based in San Francisco, California. The app, which has not yet been launched, is described on its website as a Web3 super app for everyday consumers, promising to be "entirely goof-proof," and includes features such as "part exchange, part wallet, and part guide." The company plans to use the new funding to continue building the app, hiring, and key partnerships.

Founder Background

Kresus was founded by serial entrepreneur Trevor Traina, son of shipping magnate and art collector John Traina, and a veteran in the startup field. Trevor Traina has previously founded/co-founded five tech startups and invested in many others. His exits include IfOnly (sold to MasterCard in 2019), StepUp Commerce (sold to Intuit in 2006), and CompareNet (sold to Microsoft in 1999). Former US President Trump nominated Trevor Traina to serve as the US Ambassador to the Republic of Austria from March 2018 to January 2021.

The CEO of Kresus aims to revolutionize how customers interact with businesses through Web3. With only about 2% of the global population currently engaging with and using Web3, Kresus aims to bridge the Web3 gap, making it easier for consumers to access blockchain-based services through its super app.

Murtaza Akbar, founding partner of Liberty City Ventures, commented on the company's leading position in its first funding round, stating, "Trevor Traina's reputation as an entrepreneur and his passion for bringing Web3 into the mainstream is second only to his team's expertise in blockchain and the future of the internet. We believe Kresus's product will help fundamentally change the Web3 ecosystem, making it accessible and user-friendly."

On the other hand, Ryan Chou, investment lead at JetBlue Ventures, commented, "Web3 has the potential to have a profound impact on various industries, including travel and hospitality. We are excited about Trevor and Kresus's vision for the aviation industry and look forward to seeing future developments."

Consumer-Focused SuperApp

Kresus is redefining the meaning of Web3 wallets, becoming a super app designed for everyday consumer use in the next generation of Web3.

• According to Kresus's official promotion, Kresus's design boasts the industry's strongest security and will never touch users' digital assets. Becoming a premium member of Kresus ($15/month) offers various benefits, from being able to designate guardians to protect users' valuable items, to setting delayed withdrawals for outgoing transactions, and additional trust and estate features, giving all power to you and those you trust.

• Focused on user experience, you won't need complicated registration steps, won't permanently lock your account and assets when you lose your password, and will bid farewell to the risk of accidental transfers. The "entirely goof-proof" feature is also a major highlight of Kresus, maximizing user convenience.

• Users can also find pleasant surprises in Kresus, as it will become a dynamic place for learning, gathering information, and connecting and sharing. Sharing selected Web3 fun content, teaching you how to create your first NFT, and constantly changing Web3 fun education content will bring users closer to an exciting community.

• Kresus introduces itself as a unique Web3 super app on its official promotion, with easy-to-use mobile experience, customizable strong security, seamless multi-network compatibility, in-app revenue opportunities, and more anticipated content to be developed. Its specific advantages include:

• Human-readable blockchain identity

• Seedless mnemonic seed management

• Simple registration and customizable strong security

• Minting or purchasing transaction NFTs

• In-app curated Web3 content and special offers

• Web2 user UI interface for easy user experience

• In-app social profile closely connecting users to the Web3 world

Currently, Kresus is aiming to accelerate consumer adoption of blockchain by targeting multiple industries such as aviation, travel, and hospitality. The aviation industry and other consumer-facing markets are leveraging blockchain technology to provide NFT-based ticketing services and will integrate customer loyalty programs. According to promotional images on the Kresus website, the Web3 app offers a variety of customized services for travelers, including wallets, digital asset exchange platforms, and travel guides.

Kresus is expected to launch in the first half of 2023. If you are interested, you can join the waiting list by simply entering your email address on the official website. Official website: https://www.kresus.com/ Kresus Twitter: https://twitter.com/Kresusofficial

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