OXIO, a telecom-as-a-service platform for brands and enterprises with a white-label, fully-customizable solution to help turn brands into telecom carriers, announces it has raised $40 million in Series B funding.

The round was led by ParaFi Capital, with participation from Digital Currency Group, Ascend, and Leyden; as well as existing investors Multicoin Capital, Monashees, Atlantico Capital, FinTech Collective; seed investors Allan Green of Candel & Partners; and angel investors from LightShed Partners and Sea Group. The Series B follows OXIO's $12 million Series A in November 2020, which together with earlier seed rounds brings total proceeds raised to $65 million to date.