Lithuania-based FreeBnk has recently concluded a significant funding round, securing $3m to advance its crypto investment technologies.
According to Arctic Startup, the round was spearheaded by Founderheads, with notable contributions from ChaiTech Ventures, LVT Capital, and Lavender Capital.
FreeBnk is dedicated to simplifying the crypto investment process for its users. It focuses on tokenizing real-world assets (RWAs), such as property, stocks, and gold, allowing for fractional ownership through its innovative platform. The company’s suite of features includes gas fee-less cross-chain transfers, low-cost merchant payments, competitive rates for mortgages and lending, and robust crypto portfolio insurance.
The newly acquired funds are earmarked for several key areas of development, primarily enhancing the user interface and app experience, especially targeting newcomers to the cryptocurrency market. This includes implementing advanced security measures and extending comprehensive insurance coverage to protect user investments.
Additional features of FreeBnk include overseas fiat money transfers via blockchain and advanced inheritance plans, which provide a safety net for users’ digital assets. This multi-faceted approach is supported by a $30m insurance pool, underlining the company’s commitment to security and user trust.
Yunus Emre Ozkaya, CEO of FreeBnk, commented on the funding, “Our goal is to reduce the complexity that often intimidates users from entering the crypto sphere by offering a platform that provides a top user experience for our clients. First and foremost, we see ourselves as the pioneers in the RWA industry, as we built a product where real people can interact with physical assets, not just institutions. As the real estate market expands, we see substantial value in investors expanding their portfolios to include RWAs, benefiting from its inherent stability while enhancing their investment prospects.”
In addition to this recent funding, FreeBnk is also enhancing its customer support capabilities, with plans to introduce round-the-clock in-app support that connects users directly with human representatives for immediate, transparent problem-solving.
Previously, the company had also received significant attention for its foundational security measures, particularly its multi-party computation (MPC) framework, which guarantees high-level protection for users’ digital assets.
Sarunas Legeckas, General Partner of Founderheads, expressed his support: “We are thrilled to be a part of a project like FreeBnk that prioritizes greater user control over digital assets. In today’s changing financial sector, empowering users with the ability to manage their assets securely and freely is essential. FreeBnk’s commitment to decentralization aligns with our vision of reshaping how users interact with digital assets.”
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