Today French Treasury management fintech Fipto has raised €15 million in Seed funding.
Fipto is a global B2B payments and treasury management solution which enables companies to manage corporate treasuries and to make instant international payments in both fiat and digital currencies using blockchain technology.
The Fipto platform was built from scratch as a new payments infrastructure.
The company's founders have more than 20 years of experience in banking and payments. The team includes an expert in cryptocurrency who developed an exchange platform, as well as a former head of sales at Coinhouse, the first digital currency broker to obtain DASP approval from the AMF.
A growing number of global companies are using blockchain in projects beyond the technology's roots in cryptocurrencies — in financial services and industries such as retail and supply chain.
Fipto CEO and co-founder Patrick Mollard shared:
"Payments in digital currencies make it possible to simplify international transactions.
Traditional transactions can take several days to complete, are difficult to trace and can be costly because they involve numerous intermediaries."
As well as making payments, Fipto allows customers to take full control of their digital assets, while also managing and consolidating their corporate treasuries in full compliance with French DASP and forthcoming European MiCA regulatory requirements. The solution also includes watertight security and permissions tools for complete asset security.
The French Digital Asset Service Provider (DASP) status inspired the EU MiCA (Markets in Crypto-Assets) Directive, which was adopted by the European Parliament on 20 April 2023 and comes into force later this year.
MiCA establishes a legal framework for all digital asset operators.
"The team's unique experience, ambition and in-depth knowledge of banking and payments, combined with their expertise in blockchain technology, will enable Fipto to become a global reference for businesses who need financial services based on this innovative technology.
Thanks to its secure and compliant infrastructure, we are convinced that blockchain will profoundly transform the world of financial services, and that Fipto will become a leader in its field."
Lead image: Fipto team. Photo: Uncredited.