Copenhagen-based Januar, a payment gate for crypto companies, announced on Thursday that it has secured €1.5M funding in a Seed Extension round from CMT Digital, Third Prime, and Skyfall Ventures alongside Michael Grønager, Chainalysis Co-founder & CEO, and with follow-on from current investors.
“I am tremendously excited to share the news about our latest fundraise that will fuel our international expansion and drive profitability, further establishing Januar as a key player in the crypto space. It is a critical step in our journey, and we’re excited to use these resources to create an even better experience for our users. At Januar, we are committed to providing trusted and seamless fiat-to-crypto conversions, and our new crypto services are a testament to that commitment.” says Simon Ousager, co-CEO and Founder at Januar.
Besides funding, the Danish company also announced the launch of Januar Crypto – an institutional Wallet and Crypto Trading solution integrated alongside its fiat account and payment solutions.
According to the company, the Januar Wallet and Januar Trade combination will allow businesses to easily convert fiat to crypto right on the platform.
With this move, the company simplifies operations by eliminating time-consuming and expensive transaction processes that currently cause difficulties for businesses and their customers.
After securing €6M in a Seed funding round, the company obtained a full Payment Institutions license with the Danish FSA, which has been fully passported to permit service across all 30 EEA markets.
Januar: Financial infrastructure for crypto businesses
Januar provides financial infrastructure for crypto businesses, offering fiat business accounts and payment solutions integrated with crypto wallet and trade solutions in a one-stop platform for compliant fiat-to-crypto money flows.
Its instant settlement payment network JIN (Januar Instant Network) operates 24/7 and makes transfers instant and free between trusted parties on the network.
What do the investors have to say?
CMT Digital is a global blockchain and web3 proprietary trading and venture capital firm focused on early-stage investments that accelerate the adoption of blockchain technology.
“We are thrilled to be investing in Januar. The crypto ecosystem is notoriously underbanked, and Januar fills an important gap by servicing compliant crypto businesses with the critical financial services they need to operate. We believe a major hurdle to being successful in this space is a high degree of compliance and a regulatory focus, and we believe Januar is hyper-focused on these points. Moreover, Januar’s innovative one-stop platform integrates fiat and crypto operations, marking a significant step towards redefining banking and payments in the crypto sphere.” says Sam Hallene, Investor at CMT Digital.
Third Prime is a venture firm that leads early-stage rounds and supports exceptional entrepreneurs through exit.
“Crypto businesses have been provided with minimal formal banking services, making it difficult to conduct their day-to-day financial operations. Januar fills a gap in the industry and continues to professionalise the ecosystem through its compliance and regulatory-first approach. Third Prime is excited to be backing Januar and is looking forward to partnering with the team as it provides crypto with much-needed financial services,” says Christian Kaczmarczyk, Principal at Third Prime.
Skyfall Ventures is an early-stage investment firm that invests only in Nordic early-stage companies built around a strong software component.
“We believe that Januar is uniquely positioned as a crypto-friendly financial partner, and is poised to enable a large and growing industry the freedom to operate by being experts in KYC/AML assessment of crypto companies and by tailoring product offerings to the industry,” says Espen Malmo, Co-founder & Managing at Skyfall Ventures.
Read the orginal article: https://siliconcanals.com/news/startups/copenhagen-based-januar-bags-1-5m/
