Coinflow Labs, a Chicago, IL-based instant settlement payment provider, closed its $2.25M seed funding round.
The round was led by CMT Digital with participation from Reciprocal Ventures, Jump Crypto, Draper Dragon, Digital Currency Group, and various angel investors. This round follows a pre-seed round Coinflow raised in early 2023 with the majority of their investors doubling down on the team.
The funding will enable the company to further service more merchants in additional verticals, expand jurisdictions, further develop the product, and hire additional key team members.
Led by Daniel Lev, Co-Founder and CEO, Coinflow Labs provides an innovative payments infrastructure solution that aims to reduce the time it takes for merchants to receive payments. It offers the ability for merchants to receive their money instantly. Coinflow provides a comprehensive payment stack that includes chargeback-free payment acceptance with instant settlement in stablecoins. Additionally, the system offers an instant fund disbursement product, allowing businesses to instantly pay out funds from stablecoins to their users’ bank accounts using real-time payment rails such as Visa Direct, RTP via the clearing house, and instant SEPA.
Currently, Coinflow’s products are live on multiple blockchains utilizing these networks as the settlement layer. The company has over 50 merchants live and is quickly growing. Coinflow has secured partnerships with multiple US banks for payment processing and fund disbursement services. The company’s payment acceptance product allows merchants to accept payments in 170+ countries and the fund disbursement product is live across the US & EU with additional jurisdictions coming in 2024.
FinSMEs