- Fintech startup Fiat Republic recently completed a seed round of financing, raising $7 million.
- The funds will be used to develop a banking services platform.
- Notable investors in this round include Kraken Ventures, Fabric Ventures, Arca, and Inovo.
British fintech firm Fiat Republic successfully raised $7 million in a recent funding round aimed at developing a banking services platform. Venture capital firms Kraken Ventures, Fabric Ventures, Arca, and Inovo all participated in this investment opportunity.
It is worth mentioning that back in March 2022, the project received a financial boost of $3.5 million from Credo Ventures, Seedcamp, and Speedinvest, as reported by Cryptorank. Additionally, in June, the company secured another $2.5 million from Connect Ventures, SoftBank, and Credo Ventures.
Fiat Republic’s primary objective is to enhance banking and payment accessibility for cryptocurrency companies. The company has developed a platform that enables seamless integration with various global and local payment networks.
Through their partnership with Fiat Republic, companies can benefit from fast and real-time transmission of transaction data, fostering trust between the traditional financial sector and the cryptocurrency industry.
As part of this funding round, Fiat Republic has announced obtaining a license from De Nederlandsche Bank (DNB), allowing them to offer financial services in the European Economic Area. The company already holds permission to operate in the United Kingdom, as per their press release.
Just a reminder, Coinchange, a platform that focuses on expanding its operations and attracting new clients, recently secured $10 million in investments in November.