CFX Labs has finalised the closing of a $9.5m seed funding round, and is now aiming to use the capital to transform global payment processing.
The firm raised the funds in a heavily oversubscribed round from a host of strategic partners, including Shima Capital, Decasonic, Antalpha, CMT Digital, Corazon Capital, Hard Yaka, Kraken Ventures, New Form Capital, Metropolitan Capital Bank & Trust.
With this tranche secured, CFX Labs is looking to provide support for more than one billion people globally, who are looking to efficient and effective international and domestic remittance payments.
The funding round signifies a pivotal moment for CFX Labs, which operates at the nexus of financial services, point-of-sale solutions, and digital assets, allowing nationwide payment network, and aiding its ongoing development of pioneering technologies supporting international payments.
Nick Cavet, co-founder and CEO of CFX Labs, spoke enthusiastically on the success of the round stating, “Bringing together an accomplished team of industry executive leadership from the likes of PayPal, MoonPay, Sardine, Robinhood, ABN AMRO Bank, Feeding America, and world class technical development, this seed round represents the conviction our investors have in our platform and its potential.
“CFX is not just accelerating the movement of money; we’re transforming the very fabric of the global money movement to unlock entirely new monetisation opportunities for the real producers and consumers of our shared economy,” he continued.
Sam Yagan, co-founder & Managing Director of Corazon Capital, said, “”We are eager to support CFX Labs as they reimagine and transform the global payment processing market with the industry’s most advanced and intuitive technology. CFX Labs has the potential to reshape the multi-trillion dollar global payments market through its vertically integrated platform that empowers everyone to easily access and take control of their payment transfer needs.”
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