ZBD Raises $40 Million In Series C Funding Round

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ZBD secured $40 million in a Series C funding round, primarily led by Blockstream Capital Partners, who contributed $36 million. This brings the company’s total funding to approximately $90 million across multiple rounds. The capital aims to enhance ZBD’s role as a vertically integrated payments provider for gaming, emphasizing real money rewards, seamless transactions, and expansion into new platforms and regions.

ZBD’s Series C round represents a significant milestone for the company, which specializes in digital payments tailored for the gaming industry. The funding was secured from Blockstream Capital Partners, a firm linked to prominent Bitcoin advocate Adam Back, underscoring confidence in ZBD’s Bitcoin centric approach. The round was not publicly valued, but it positions ZBD to scale operations amid a competitive landscape where traditional payment systems often struggle with high fees and cross border inefficiencies. Key participants emphasized the potential for ZBD’s technology to integrate real value transactions natively into games, enhancing player engagement without disrupting gameplay.

Founded by Simon Cowell, André Neves, and Christian Moss, ZBD originated as Zebedee in 2019, focusing on Bitcoin payments via the Lightning Network for video games. The company rebranded to ZBD to reflect its expanded scope as a comprehensive payments stack, including tools for rewards, payouts, and checkouts. With 70 employees and partnerships with 55 games in 2025, ZBD processes millions of transactions annually, demonstrating scalability.

The new funds will support several initiatives:

• Scaling embedded rewards systems to boost player retention and monetization.
• Expanding infrastructure to PC, console, and the broader creator economy.
• Enhancing global licensing and presence in North America, Europe, Latin America, and Asia-Pacific.This aligns with ZBD’s vision of making Bitcoin the “native currency” for gaming, enabling instant, low fee transactions for in-game purchases, earnings, and trades.

In the gaming sector, valued at over $200 billion globally, payment innovations are crucial for handling microtransactions and virtual economies. ZBD’s approach addresses pain points like high processing fees (often 30% on app stores) and slow settlements by using blockchain for faster, cheaper alternatives. While cryptocurrency volatility poses risks, evidence suggests integrations like ZBD’s can increase user lifetime value (LTV) through rewarding experiences. This funding comes as blockchain gaming gains traction, with similar companies exploring Web3 elements, though regulatory scrutiny in regions like the EU could influence rollout.

ZBD, a fintech company specializing in payments and rewards for the gaming industry, has recently completed a $40 million Series C funding round, marking a pivotal step in its evolution from a Bitcoin focused startup to a comprehensive payments provider. This round was led by Blockstream Capital Partners, who invested $36 million, highlighting strong backing from entities deeply embedded in the cryptocurrency ecosystem. The funding underscores investor confidence in ZBD’s ability to bridge traditional gaming with blockchain technology, particularly through the Bitcoin Lightning Network, which enables fast and cost effective transactions.

ZBD, originally founded as Zebedee in 2019 by Simon Cowell (CEO), André Neves (CTO), and Christian Moss (Head of R&D), began as a platform enabling Bitcoin micropayments in video games. The name “Zebedee” was inspired by a character from a French cartoon, chosen for its memorable sound rather than any deeper significance. Headquartered in New Jersey with roots in the UK, the company has grown to 70 employees and processes over 122 million transactions annually, demonstrating robust scalability in handling high velocity payments required by modern gaming.

ZBD’s core offerings include a unified payments stack encompassing:

• Unified Checkout: Seamless one click purchases for in-game items like skins and boosts.
• On & Off Ramps: Fiat to crypto conversions and peer to peer trading.
• Wallet Infrastructure: Secure storage and management of digital assets.
• Rewards & Loyalty Programs: Real money incentives to drive player engagement, retention, and monetization.
• KYC & Fraud Prevention: Compliance tools to ensure secure transactions.
• Card Issuing: Virtual and physical cards for broader financial integration.

The rebranding to ZBD reflects a shift toward a broader fintech focus, moving beyond niche Bitcoin gaming to a vertically integrated provider licensed for operations in multiple regions. In 2025, ZBD collaborated with 55 games, integrating features that allow players to earn and spend real value without interrupting gameplay. This positions ZBD as a key player in the intersection of fintech and gaming, where digital economies are increasingly central.

ZBD’s funding trajectory illustrates steady growth and increasing investor interest in blockchain enabled payments. Below is a summary of its known funding rounds:

Discrepancies in reported amounts (e.g., PitchBook lists a $12.9 million early VC round, while others combine it with Series A) may stem from undisclosed details or regional reporting variations. Overall, ZBD has attracted a mix of traditional venture firms and gaming giants like Square Enix, reflecting its appeal across fintech and entertainment sectors.

The $40 million Series C, secured as financing commitments, is ZBD’s third major round and its largest to date. Blockstream Capital Partners, affiliated with Bitcoin pioneer Adam Back, led the investment with $36 million, suggesting the round was heavily concentrated with this single backer. Other investors were not publicly named, and the valuation remains undisclosed, which is common for crypto related firms amid market volatility.

Executive quotes highlight optimism:

• Simon Cowell (CEO): Emphasized building “payment rails for video games” using blockchain to handle diverse transactions, including Bitcoin.
• Christian Moss (Co-founder): Noted the Lightning Network’s readiness for gaming’s demands, positioning Bitcoin as the “native currency of the internet, and soon, every game.”

Social media reactions, particularly on X (formerly Twitter), were positive, with the company’s announcement post garnering over 8,000 views and endorsements from industry figures. Posts from users like @MandelDuck (Moss’s handle) celebrated the milestone, while news aggregators amplified the news, signaling broader ecosystem interest.

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The capital will accelerate ZBD’s growth as a fully licensed payments provider, focusing on:

• Product Expansion: Enhancing tools like ZBD Earn for rewards ecosystems and ZBD Pay for fiat and crypto payouts.
• Platform Diversification: Moving beyond mobile to PC and console, addressing a larger segment of the $100+ billion console market.
• Geographic Reach: Expanding licensing in North America, Europe, Latin America, and Asia-Pacific to tap into emerging gaming hubs like Brazil and India.
• Creator Economy Integration: Extending infrastructure to support content creators, enabling Bitcoin earning models similar to those in podcasting and music streaming.

This aligns with ZBD’s goal of increasing developer control over in-game economies, potentially boosting lifetime value (LTV) by turning payments into profit centers rather than costs.

The gaming industry, projected to exceed $250 billion by 2027, increasingly relies on digital payments for microtransactions, subscriptions, and virtual goods. Traditional processors like Apple and Google charge up to 30% fees, creating opportunities for alternatives like ZBD’s low fee Lightning Network solutions. Blockchain gaming, while still nascent (representing about 3% of the market), has seen investments surge, with firms like Animoca Brands and Forte raising similar amounts.

ZBD competes with platforms like Xsolla and Stripe for gaming payments, but differentiates through Bitcoin integration, appealing to crypto native audiences. Partnerships with apps like SaruTobi (an iOS game with native Lightning payments) exemplify real world adoption. However, the sector faces headwinds: Cryptocurrency price swings could deter mainstream users, and regulatory frameworks (e.g., EU’s MiCA) demand robust KYC, which ZBD addresses through its licensed status.

This funding could catalyze Bitcoin’s mainstream adoption in gaming, where microtransactions total billions annually. By enabling seamless real money rewards, ZBD may enhance player immersion and developer revenues, potentially influencing trends like play to earn models. Positive impacts include democratizing access for unbanked gamers in developing regions via global, instant transfers.

Challenges include:

• Volatility and Adoption: Bitcoin’s price fluctuations may affect reward perceived value.
• Regulatory Risks: Expanding globally requires navigating varying crypto laws.
• Competition: Established players and new entrants could erode market share.
• Technical Hurdles: Ensuring Lightning Network’s reliability at scale amid network congestion.

Despite these, ZBD’s track record, millions of wallets and integrations with apps like Wavlake and Fountain, suggests resilience.

Looking ahead, ZBD aims to solidify its position as the “payments stack for games,” potentially partnering with major studios or expanding into adjacent sectors like esports and metaverses. With Bitcoin’s growing institutional acceptance (e.g., via ETFs), this round could propel ZBD toward profitability and further rounds or an IPO. Analysts view it as a bet on blockchain’s role in digital economies, with success hinging on execution in a post 2025 gaming boom. Overall, this funding not only validates ZBD’s model but also signals maturing infrastructure for crypto in everyday entertainment.

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