Fnality, a financial market infrastructure firm that operates next generation wholesale payment systems regulated by central banks, has raised $136m (£99.7m) in a Series C funding round.
The round was led by WisdomTree, Bank of America, Citi, KBC Group, Temasek and Tradeweb, with participation from existing investors Banco Santander, Barclays, BNP Paribas, DTCC, Euroclear, Goldman Sachs, ING, Nasdaq Ventures, State Street and UBS.
Fnality is building a global settlement network underpinned by distributed ledger technology, designed to connect wholesale markets with the growing world of tokenised institutional assets.
The company launched the Sterling Fnality Payment System in the UK in December 2023 and is now working to broaden its network to cover more currencies, improve liquidity management, and provide interoperability for innovations including stablecoins and tokenised deposits.
Fnality CEO Michelle Neal said, “The closing of our Series C reflects a shared conviction that the future of money demands a new foundation, one with Fnality at its core. Our blockchain-based settlement systems, anchored in the credit quality of central bank money, connect traditional finance with the fast adoption of tokenized and decentralized markets.
“With 24/7 payment rails, real-time settlement, and enhanced liquidity management, we’re not just modernizing wholesale payments, we’re building a future that fuses Decentralized Finance’s operational optimization with Traditional Finance’s capital efficiency. This investment accelerates our journey toward a financial market infrastructure that is more resilient, more inclusive, and ready for the hybrid future of global finance.”
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