diff --git a/packages/embark-accounts-manager/src/fundAccount.js b/packages/embark-accounts-manager/src/fundAccount.js
deleted file mode 100644
index 9b4be690c..000000000
--- a/packages/embark-accounts-manager/src/fundAccount.js
+++ /dev/null
@@ -1,75 +0,0 @@
-const async = require('async');
-const TARGET = 0x7FFFFFFFFFFFFFFF;
-const ALREADY_FUNDED = 'alreadyFunded';
-
-export default function fundAccount(web3, accountAddress, hexBalance, callback) {
-  if (!hexBalance) {
-    hexBalance = TARGET;
-  }
-  const targetBalance = web3.utils.toBN(hexBalance);
-  let accountBalance;
-  let coinbaseAddress;
-  let lastNonce;
-  let gasPrice;
-
-  async.waterfall([
-    function getAccountBalance(next) {
-      web3.eth.getBalance(accountAddress, (err, balance) => {
-        if (err) {
-          return next(err);
-        }
-        balance = web3.utils.toBN(balance);
-        if (balance.gte(targetBalance)) {
-          return next(ALREADY_FUNDED);
-        }
-        accountBalance = balance;
-        next();
-      });
-    },
-    function getNeededParams(next) {
-      async.parallel([
-        function getCoinbaseAddress(paraCb) {
-          web3.eth.getCoinbase()
-            .then((address) => {
-              coinbaseAddress = address;
-              paraCb();
-            }).catch(paraCb);
-        },
-        function getGasPrice(paraCb) {
-          web3.eth.getGasPrice((err, price) => {
-            if (err) {
-              return paraCb(err);
-            }
-            gasPrice = price;
-            paraCb();
-          });
-        }
-      ], (err, _result) => {
-        next(err);
-      });
-    },
-    function getNonce(next) {
-      web3.eth.getTransactionCount(coinbaseAddress, (err, nonce) => {
-        if (err) {
-          return next(err);
-        }
-        lastNonce = nonce;
-        next();
-      });
-    },
-    function sendTransaction(next) {
-      web3.eth.sendTransaction({
-        from: coinbaseAddress,
-        to: accountAddress,
-        value: targetBalance.sub(accountBalance),
-        gasPrice: gasPrice,
-        nonce: lastNonce
-      }, next);
-    }
-  ], (err) => {
-    if (err && err !== ALREADY_FUNDED) {
-      return callback(err);
-    }
-    callback();
-  });
-}
diff --git a/packages/embark-accounts-manager/src/fundAccount.ts b/packages/embark-accounts-manager/src/fundAccount.ts
new file mode 100644
index 000000000..8736329e9
--- /dev/null
+++ b/packages/embark-accounts-manager/src/fundAccount.ts
@@ -0,0 +1,31 @@
+import Web3 = require("web3");
+
+const TARGET = 0x7FFFFFFFFFFFFFFF;
+
+export default async function fundAccount(web3: Web3, accountAddress: string, coinbaseAddress: string, hexBalance: string | number | undefined) {
+  if (!hexBalance) {
+    hexBalance = TARGET;
+  }
+  const targetBalance = web3.utils.toBN(hexBalance);
+
+  // check if account is already funded
+  let accountBalance = await web3.eth.getBalance(accountAddress);
+  accountBalance = web3.utils.toBN(accountBalance);
+  if (accountBalance.gte(targetBalance)) {
+    return;
+  }
+
+  // run in parallel
+  const getGasPricePromise = web3.eth.getGasPrice();
+  const getTxCountPromise = web3.eth.getTransactionCount(coinbaseAddress);
+
+  const [gasPrice, lastNonce] = await Promise.all([getGasPricePromise, getTxCountPromise]);
+
+  return web3.eth.sendTransaction({
+    from: coinbaseAddress,
+    to: accountAddress,
+    value: targetBalance.sub(accountBalance),
+    gasPrice: gasPrice,
+    nonce: lastNonce
+  });
+}
diff --git a/packages/embark-accounts-manager/src/index.ts b/packages/embark-accounts-manager/src/index.ts
index 177511f91..d047a4944 100644
--- a/packages/embark-accounts-manager/src/index.ts
+++ b/packages/embark-accounts-manager/src/index.ts
@@ -142,16 +142,18 @@ export default class AccountsManager {
       this.ready = true;
       return;
     }
-    async.eachLimit(this.accounts, 1, (account, eachCb) => {
-      if (!account.address) {
-        return eachCb();
-      }
-      fundAccount(web3, account.address, account.hexBalance, eachCb);
-    }, (err) => {
-      if (err) {
-        this.logger.error(__("Error funding accounts"), err.message || err);
-      }
-      this.ready = true;
-    });
+    try {
+      const coinbase = await web3.eth.getCoinbase();
+      const fundingAccounts = this.accounts.map((account) => {
+        if (!account.address) {
+          return null;
+        }
+        return fundAccount(web3, account.address, coinbase, account.hexBalance);
+      });
+      await Promise.all(fundingAccounts);
+    } catch (err) {
+      this.logger.error(__("Error funding accounts"), err.message || err);
+    }
+    this.ready = true;
   }
 }
diff --git a/packages/embark-proxy/src/proxy.js b/packages/embark-proxy/src/proxy.js
index e511a7df1..10b9c69c9 100644
--- a/packages/embark-proxy/src/proxy.js
+++ b/packages/embark-proxy/src/proxy.js
@@ -15,6 +15,7 @@ export class Proxy {
     this.receipts = {};
     this.transactions = {};
     this.timeouts = {};
+    // TODO create local events instance for the ready events that are just used locally once `events.js` is extracted in a package
     this.events = options.events;
     this.plugins = options.plugins;
     this.logger = options.logger;