R Labs Raises +$5M In Pre-Seed Funding

Company Founded by Former Bumble Execs, Serial Financial Entrepreneurs, and Social Impact Leaders Dropping First Limited NFT Project to Drive Measurable Environmental and Social Inclusivity Outcomes

R Labs, a blockchain-based financial technology company, today announced the funding of their pre-seed round of +$5M. The minority and women-led founding team which has previously built $B+ businesses, launched global cult brands, and created meaningful environmental and social change, has come together to launch R Labs. R Labs is a values-based company building a social impact ecosystem in Web3 where every action will aim to create a positive impact in the physical world.

R Labs’ mission is to bring purpose and more utility to Web3 while addressing the generational shift of more than 24 Trillion dollars in wealth this decade to Millennials and serving their desire to mobilize their financial assets for social and environmental good. R Labs is committed to the true democratization of wealth creation and sees the tokenization of impact as a meaningful opportunity to build the world we want to live in through tangible impact opportunities.

“The next generation will own a digital wallet before opening a bank account,” says Geeta Sankappanavar, Co-Founder of R Labs. “This will democratize wealth creation and enable consumers and companies to align their money with their values and interests.”

R Labs’ pre-seed round was materially oversubscribed and led by a roster of notable investors associated with leading institutions including Softbank, AGF and Prodege, among others. Advisors supporting R Labs’ projects and initiatives are linked to industry leading organizations and projects including Azuki, Decentraland, Warner Music Group (WMG), Creative Artists Agency (CAA) and more.

The founding team consists of top executives from high-profile global companies in finance, technology, and social impact and is spearheaded by Geeta Sankappanavar, a $B+ entrepreneur, investor, and community leader who is a lead pioneer in combining institutional investment with transparency and purpose in Web3.

“R Labs lives at the intersection of innovation, human connection and purpose to create measurable impact,” says Chelsea Cain Maclin, Co-Founder and Chief Marketing Officer of R Labs. “We are thrilled to have assembled an incredible team with expertise in community building, brand and corporate partnerships, tradfi + defi, regulatory and impact. Our team includes founders and former executives from Bumble, Draft Kings, Rovio, Deutsche Bank, UBS, and Credit Agricole. R Labs and our genesis NFT is the first step towards building the world that we want to live in.”

The company will launch a new purpose-led NFT project arriving to Web3 later this summer oriented around intersectional impact in five core pillars including mental wellness, inclusivity, sustainability, education, and overall entertainment. Let’s make our tokens matter more.

For more information on R Labs and real-time updates on the launch of the Summer NFT project, follow @RPlanetNFT on Twitter.

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