Unbox, an innovative FinTech company, has recently announced the closure of its Series A funding round, amassing a significant €12m.
The round was spearheaded by HSBC Asset Management (HSBC AM) with notable support from SFPIM Relaunch, an arm of the Belgian Sovereign Wealth Fund.
This FinTech firm is revolutionising the way we think about asset exchange. Unbox’s proprietary technology allows for the embedding of memory, conscience, and forward vision into a wide array of assets, from financial resources to physical products. The company emphasises the importance of privacy and security in its technology, which enables closed-loop transactions. This versatility ensures control and registration of any (un)fungible value, ranging from traditional currencies to unique assets like diamonds or everyday items like plastic bottles.
The newly secured funds are earmarked for the expansion of Unbox’s software platform, focusing on better servicing their target markets and delivering tailored solutions for industry-led projects. A significant portion of this investment will also go towards recruiting new talent and developing the skills of existing team members. With Brussels, Belgium as its operational hub, Unbox is poised to enhance its global presence.
HSBC AM’s Head of Venture Investments, Remi Bourrette, expressed enthusiasm for the investment. “We are pleased to lead this investment round for Unbox and support them in their mission to enable targeted and transparent funding distribution through their versatile software platform.
“Thanks to their technology, traceability and programmability can be embedded into existing payment networks, which simplifies deployment. As governments, institutions and not for profit organisations are constantly looking for more efficient ways to distribute grants or financial support, we believe the need for solutions such as Unbox’s will rapidly expand. This investment is part for our venture capital strategy focused on fintech and enterprise software.”
Erik Saelens, CEO of Unbox, remarked on the significance of the investment from such industry leaders. “SFPIM stands out as one of the most influential funds in Europe. The investment from industry leaders like HSBC AM and SFPIM is a major milestone for our company, and their expertise and strategic support are poised to play a pivotal role in our continued growth and success. I want to seize this opportunity to express my sincere gratitude for the unwavering support of our global team of Unboxians, clients, and business partners.”
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