27/11/19 05:18 UTC-5

Omni Renta startup, funded for $25 million from Ripple, is closing

The rental service of various kinds of equipment, funded by the Ripple cryptographic company, said it was shutting down.  


What will entail a decision?

Omni Rentals received $25 million from Ripple at the start of the launch. By the end of 2019, they said they were shutting down activities. The startup stressed that they “are proud to have created and are grateful to everyone who supported them.” But at the same time, it is still unknown whether they are going to compensate the received investments to the investors. According to cryptocurrency news, the service was useful, but its scaling became too time-consuming and expensive, because it was very difficult to find new customers.

It also became known that 10 developers of the closing company will go to the service of the Coinbase crypto-exchange.

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Editor: Alyona Deryabina