Coinflow Labs,a instant settlement payment provider, secures $2.25million in seed funding. With participation from Jump Crypto, Draper Dragon, Digital Currency Group, Reciprocal Ventures, and other angel investors, CMT Digital led the round. This funding round comes after Coinflow raised a pre-seed round in early 2023, during which the bulk of its investors increased their commitment to the company.
With this funding, the company will be able to develop the product further, hire more important team members, extend territories, and serve more merchants in more verticals.
With the goal of shortening the time it takes for merchants to receive payments, Coinflow Labs offers an inventive payments infrastructure solution under the direction of co-founder and CEO Daniel Lev. It provides the option for retailers to get paid right away.
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It offers a complete payment stack. The system also provides an instant fund disbursement solution that enables companies can use real-time payment rails like Visa Direct, RTP via the clearing house, and instant SEPA to transfer money from stablecoins to their users’ bank accounts instantly.
At the moment, Coinflow’s products operate on several blockchains, using these networks as the layer for settlement. With more than 50 active merchants, the business is expanding swiftly. Coinflow has established connections with several US institutions to provide fund disbursement and payment processing services.
With the help of the company’s payment acceptance product, merchants can accept payments in more than 170 countries. The fund disbursement product is currently available in the US and the EU, with plans to expand into new jurisdictions in 2024.
About Coinflow
Coinflow, payment solutions for Web3 businesses are made possible. By converting cryptocurrency to US dollars and depositing the money into a standard bank account, payouts to consumers may be made. Although Coinflow manages all of the infrastructure in the background, its main use-case is to assist Web3 products like as games and wallets in onboarding non-crypto native users with recognisable, conventional payment flows.
