Coinflow Labs, an instant settlement payment provider, has successfully closed its latest funding round, securing $2.25m.
The round was led by CMT Digital, with participation from Reciprocal Ventures, Jump Crypto, Draper Dragon, Digital Currency Group, and various angel investors.
The London-based Coinflow Labs offers innovative payment infrastructure solutions, aiming to streamline the process for merchants to receive payments. Traditional payment methods often entail delays of several business days before settlement, placing strains on merchants. Coinflow’s solution enables merchants to receive their funds instantly, providing a chargeback-free payment acceptance system with instant settlement in stablecoins.
Moreover, Coinflow offers an instant fund disbursement product, facilitating businesses to promptly disburse funds from stablecoins to their users’ bank accounts through real-time payment rails like Visa Direct, RTP via the clearing house, and instant SEPA.
Coinflow has already made significant strides in the market, with over 50 live merchants and a growing volume of processed transactions. The company’s partnerships with multiple US banks further enhance its payment processing and fund disbursement services. Additionally, Coinflow’s products allow merchants to accept payments in over 170 countries, with its fund disbursement product operational across the US and EU, slated for further expansion in 2024.
Daniel Lev, Co-Founder and CEO of Coinflow Labs, expressed enthusiasm about the company’s mission, stating, “Amid unprecedented market volatility and uncertainty across the entire global financial system, there exists a unique opportunity to bring efficiency, security, and trust to payments systems, especially within the evolving web3 space.”
Investment Partner at CMT Digital, Sam Hallene, praised Coinflow’s innovative use of blockchain technology, emphasizing its role in bridging the gap between web3 and traditional web2 systems.
The funding secured by Coinflow Labs will be instrumental in expanding its services to more merchants across various verticals, broadening its operational jurisdictions, further product development, and bolstering its team with key hires.
Coinflow Labs’ success signifies a significant step forward in revolutionizing merchant payments, bridging the gap between traditional finance and blockchain technology.
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