The Switzerland-based global settlement banking platform Arf has raised $13 million in a seed funding round.
- Arf is a global cross-border payments provider. The startup uses web3 technologies to eliminate the capital-intensive business model of the cross-border payments industry by offering digital asset-based working capital and settlement services with native on-ramp and off-ramp capabilities to licensed money service businesses and financial institutions.
- The seed funding round attracted prominent industry leaders including Circle Ventures, Hard Yaka, United Overseas Bank Venture Management, Signum Capital, and Stellar Development Foundation.
- Arf has raised $13 million in equity and debt financing in a seed round from notable investors across Web3 and institutional finance space, including the investors of Coinbase, Solana, FTX, and Kabbage.
- Circle Ventures joined the round alongside the Stellar Development Foundation (SDF), United Overseas Bank (UOB) Venture Management, Signum Capital, Hard Yaka, NGC Ventures, Blockchain Founders Fund, and 500 Emerging Europe.
- The firm has planned to use the cash injection to further develop its blockchain-based technology to provide global treasury management and working capital credit lines for financial institutions and licensed money service businesses alike operating in the cross-border payments industry.
- Arf CEO Ali Erhat Nalbant, said that Arf’s technology sits right at the center of cross-border payments evolution.
- Ali claimed that they will use the capital from this funding to scale Arf to free up trillion dollars worth of locked working capital in the industry.
- “We’ll keep leveraging digital assets and Web3 technologies to fuel the transformation in global finance in a fully compliant way,” Ali added.
- With the seed funding, the firm will develop and foster new paradigm-shifting technologies in cross-border payments by combining the best of what Web3 and traditional finance has to offer, Arf communicated in a press release shared with AlexaBlockchain.
- Arf recently received the approval of the Financial Services Standard Association (VQF). The firm opened a new office in Zug and started scaling its team.
- Arf also announced the launch of Arf Credit Line in April, which provides money service businesses instant access to transactional working capital credit lines, and allows any corridor to be post-funded in real-time.
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