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HomeFunding London-based Fiat Republic Secures €6.4M in Seed Extension Funding

[Funding alert] London-based Fiat Republic Secures €6.4M in Seed Extension Funding

London-based Fiat Republic secures €6.4m in seed extension funding. Fiat Republic will make banking and payment services more easily accessible to bitcoin platforms.

London-based Fiat Republic secures €6.4m in seed extension funding. Fiat Republic will make banking and payment services more easily accessible to bitcoin platforms.

Along with returning investors Speedinvest, Credo Ventures, and Seedcamp, new investments from Kraken Ventures, Fabric Ventures, Arca, Inovo.vc, and Pretiosum Ventures are additionally included in the round.

Read also – Warsaw-based Quesma Secures €2.1 Million in Pre-Seed Funding

This substantial funding infusion will be used to support more growth and expansion, with the funds allocated for important projects including expanding into new regions, making strategic hiring, and fortifying banking relationships.

Adam Bialy, CEO and co-founder of Fiat Republic, said “This investment shows the confidence our investors have in Fiat Republic’s vision and the future trajectory of the company as a market leader in the web 2.5 space. With our newly acquired Dutch EMI licence, Fiat Republic will now operate across the entire European Union directly, providing e-money and payment services. Passporting from the reputable and credible jurisdiction of the Netherlands not only boosts our legitimacy in the traditional finance world, but also highlights our commitment to high compliance standards, security, and close collaboration with regulators. This move, to me, also signals that the Netherlands is open for business ahead of the upcoming MiCA regulation.”

The platform from Fiat Republic makes it simpler for cryptocurrency platforms to connect to local and international bank transfer networks. It represents a special blend of tradFi security and fiat payment automation provided via embedded banking through offering a single API integration together with a single compliance touchpoint.

Read also – London-based Vitt Secures €1 Million in Funding

Michal Benedykcinski, SVP at Arca, commented: “Arca is enthusiastic to back Fiat Republic on its mission to bridge the gap between traditional banking and the rapidly growing financial needs of web3 projects. Our investment in Fiat Republic represents a deep belief in making compliant industry standards for individual transactions easy to follow by all market participants, whether you are a crypto platform, bank, or regulator.”

Anil Hansjee, General Partner at Fabric Ventures, added: “We are delighted to be part of Fiat Republic’s journey in revolutionizing the Banking-as-a-Service landscape. Their innovative and regulation-first approach in bridging the worlds of traditional banking and web3 is not only timely but crucial for the evolution of financial services. This investment is a testament to our belief in Fiat Republic’s vision and the potential of their platform to redefine the banking experience for crypto platforms across Europe.”

About Fiat Republic

Fiat Republic, which was founded in 2021, also announced that De Nederlandsche Bank (DNB) has awarded it a full electronic money institution (EMI) licence, allowing it to offer regulated financial services throughout the European Economic Area. They also have an established EMI licencing in the UK, where they have been operating for more than a year, on top of this.

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