Irish PayTech NoFrixion snaps up €3.6m


NoFrixion, a business payments startup, has raised €3.6m inn a funding round headed by Middlegame Ventures and Delta Partners.

According to Finextra, the funding comes soon after the company’s public launch of its MoneyMoov API, which bridges legacy and digital infrastructure to future-proof business payments.

The MoneyMoov API can allow developers to incorporate multiple payment options covering cards, open banking – including Sepa and FasterPayments – and Bitcoin Lightning in a single API.

The seed round comes just a year after the firm’s launch with the backing of Enterprise Ireland.

NoFrixion plans to use the capital to grow its engineering and sales teams.

NoFrixion CEO and co-founder Feargal Brady said, “Internet banking promised much which it never fully delivered, and hasn’t evolved with the instant economy. MoneyMoov connects digital payments to ERPs, accounting platforms and core business applications, cutting out internet banking, manual processing and similar inefficiencies.

“We’ve assembled a world-class engineering team, with experience across traditional payments, but also with extraordinary bitcoin, security and user interface design expertise. We’re meeting the challenges of the instant economy, and building new digital rails to make commerce quicker, easier and cheaper.”

Open banking-powered FinTech Currensea recently secured £2.4m from a recent investment round.

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