Centi, a Swiss startup leveraging blockchain technology to provide innovative, accessible, and efficient financial solutions, announced the successful completion of its €1.8 million seed financing round led by Archblock and Bloomhaus Ventures with continued investments from existing shareholders and founders.
Recognized for its proficiency in processing transactions as small as a cent, Centi is poised for global expansion of its blockchain-based micropayment solutions and an increased footprint in promoting financial inclusion. The funds secured in this financing round will fuel Centi’s mission to revolutionize digital transactions on a global scale.
“We founded Centi driven by the potential of blockchain for micropayments and financial inclusion” states Bernhard Müller, Co-Founder of Centi. “The name ‘Centi’ itself, derived from our capability to process transactions as small as one cent, encapsulates this focus. The success of our financing round is a testament to being on the right trajectory and receiving support for our mission to revolutionize current payment processes with the Centi stablecoin.”
Centi is redefining the payment industry by introducing real-world applications of blockchain technology, specifically addressing two of its most significant shortcomings: the inefficiency of micropayments and the lack of financial inclusion. Through its proprietary stablecoin technology, Centi not only achieves compatibility with existing payment infrastructures but also pioneers innovative solutions in micropayments (B2B) and financial inclusion (B2C).
Founded in 2020, Centi’s approach demonstrates the practical and transformative impact of blockchain technology, moving beyond theoretical possibilities to deliver applications that enhance and complement the existing payment landscape.
“Our investment signifies our belief in Centi’s potential to innovate in the fintech landscape,” commented Alex de Lorraine CEO of Archblock, who spearheaded the financing round. “Our expertise in blockchain and digital currencies perfectly aligns with Centi’s approach.”
“Centi presents a highly intelligent solution to the global challenges posed by micropayments today,” added Pascal Stürchler, Co-Founder and CEO of Bloomhaus Ventures. “Leveraging our extensive global network, we are poised to offer valuable support in enabling Centi to extend its transformative solutions beyond Switzerland and into other international markets.”
Read the orginal article: https://www.eu-startups.com/2023/12/zurich-based-centi-closes-e1-8-to-advance-blockchain-based-micropayments-and-financial-inclusion/
