29 May 2024
Coinflow Labs, an instant settlement payment provider, announced closing a $2.25 million seed funding round led by CMT Digital.
Investors also included Reciprocal Ventures, Jump Crypto, Draper Dragon, Digital Currency Group, and others, with existing pre-seed backers participating.
The funding will enable Coinflow to onboard more merchants across verticals, expand jurisdictions, further develop its product, and hire additional staff.
Coinflow's payment infrastructure solution aims to reduce settlement delays merchants face when accepting card payments.
It offers a comprehensive stack including chargeback-free payment acceptance with instant stablecoin settlement and fund disbursement to instantly pay merchants via real-time payment rails.
Coinflow's products are live on multiple blockchains, with over 50 merchants already using its services that have seen over 100% volume growth last quarter.
The company has partnered with multiple U.S. banks to facilitate payment processing and disbursements across 170+ countries currently, with more jurisdictions planned for 2024.
Coinflow's CEO Daniel Lev cited opportunities to enhance efficiency, security and trust in payments by bridging traditional finance and blockchain technology.
Lead investor CMT Digital highlighted Coinflow's innovative use of blockchain to facilitate instant settlement as aligning with its mission to back technologies reshaping global markets.