Nauticus Blockchain, a Melbourne, Australia-based fintech, has said that it plans to raise $25 million in funding to help fulfill its plans for low cost, borderless financial payments.

According to a press release, the company plans to use the funding to onboard 2.9 million users by 2022 and to support cross-platform marketing spend, obtain banking and financial licenses across multiple jurisdictions, and expand the company overseas. The company estimates that the funding will raise its overall value to $74.2 million.

Since its launching in 2018, Nauticus has garnered a social media community of 50,000 people across Facebook, Telegram and Twitter. The company said that trading on its digital currency exchange — which includes Australian dollars and 17 other currencies — went live in the fourth quarter.

"We urge people who share our vision of ethical, low cost and borderless finance to join us on this journey," CEO Bryan Ng, said in the announcement.

The company, currently has 280,000 accounts in 84 countries in the world, and has attracted team members from firms that include National Bank of Australia, ANZ, Goldman Sachs, Bank of Melbourne, Accenture, News Corp., and Telstra.

Nauticus Blockchain plans to move into Forex securities trading and international remittances later this year, the release said. The company’s mobile app has been submitted to the Google Play store.