Fipto raises EUR 15 million in a seed funding round

Friday 15 September 2023 09:59 CET | News

France-based Treasury Management fintech Fipto has raised EUR 15 million in a seed funding round led by Serena and Motier Ventures.


The Fipto platform is designed to facilitate corporate treasury management and international payments, encompassing both fiat and digital currencies through the utilisation of blockchain technology. The funding for this venture was secured through a seed round led by Serena, with Motier Ventures also participating. This development comes in the wake of Fipto obtaining the status of a Digital Asset Service Provider (DASP) accredited by the French Financial Markets Authority (AMF) in March 2023, affirming its adherence to stringent regulatory standards. 

According to Fipto, the adoption of blockchain technology extends beyond its initial association with cryptocurrencies, now encompassing a variety of sectors, including financial services, retail, and supply chain management. 

The increasing integration of blockchain technology has introduced novel challenges for corporations, particularly in sectors such as corporate treasury management and digital asset payments. Central banks have acknowledged these developments, with a 2022 report from the Bank for International Settlements (BIS) emphasising the necessity to streamline international payments for both individuals and businesses via a comprehensive Central Bank Digital Currency (CBDC) program. 

Fipto officials commented on the advantages of digital currency payments, highlighting their potential to simplify international transactions compared to conventional methods, which often entail extended processing times, limited traceability, and substantial intermediary costs. They also noted that existing digital currency payment solutions fall short of addressing the challenges posed by compliance, security, asset valuation, and auditing.


France-based Treasury Management fintech Fipto has raised EUR 15 million in a seed funding round led by Serena and Motier Ventures.


Fipto's services and capabilities

Fipto offers compatibility with major digital currencies such as USDC, USDT, ETH, and BTC, while also facilitating payments in traditional currencies, all within the confines of stringent compliance and financial regulations. 

Fipto's services extend beyond payment processing, allowing clients to exercise complete control over their digital assets and effectively manage their corporate treasuries in full compliance with French DASP regulations and upcoming European MiCA regulatory stipulations. The platform also incorporates robust security measures and authorisation tools to ensure asset protection. 

The establishment of the French Digital Asset Service Provider (DASP) status served as a precursor to the EU MiCA (Markets in Crypto-Assets) Directive, adopted by the European Parliament in April 2023, and scheduled for implementation later this year. MiCA introduces a legal framework for all digital asset operators. 

One of Fipto's co-founders emphasised blockchain's transformative potential for businesses, citing advancements in security, technology, cost-efficiency, and trust. Serena and Motier Ventures were drawn to Fipto by the founders' extensive expertise in payments and blockchain technologies. 

In the official press release, Serena representatives expressed confidence in Fipto's unique combination of experience, ambition, and proficiency in banking, payments, and blockchain technology, positioning Fipto to emerge as a global reference point for businesses seeking financial services grounded in innovative blockchain technology.

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Keywords: funding, treasury, blockchain, cryptocurrency
Categories: DeFi & Crypto & Web3
Companies: Fipto
Countries: France
This article is part of category

DeFi & Crypto & Web3


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