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Monday, May 17, 2021
Home News Fiat-to-Crypto Gateway Solution, Banxa, Raises $2 Million USD Series A Round Led...

Fiat-to-Crypto Gateway Solution, Banxa, Raises $2 Million USD Series A Round Led By NGC Ventures

Full-service, internationally compliant digital banking infrastructure provider Banxa has lifted a full $2 million USD investment Series A round, piloted by NGC Ventures, one of the world’s leading blockchain investment firms. Other participating investors in the raise including Australian Securities Exchange (ASX) listed Thorney Investment Group Australia, a multi-billion dollar family office that offers asset management, financial planning, and advisory services.

Domenic Carosa, Founder and Chairman of Banxa said:

“After almost six years in the blockchain industry, our goal remains the same––to champion a fairer, more open and more secure financial system for the benefit of consumers and businesses alike. As a global payment infrastructure that looks to become the preferred digital banking service provider of the future, we now find ourselves entering this next phase of maturity as a company as we continue to support users looking to benefit from the full potential of their digital asset holdings.”

Roger Lim, Founding Partner of NGC Ventures, said:

“Banxa is uniquely positioned within the crypto economy, primed to support the ever-evolving financial preferences of a digitally-savvy generation. Banxa addresses the issue of user experience and onboarding while providing the much-needed regulatory assurances for newcomers to this nascent digital asset class. We are thrilled to support Banxa as they embark upon this next phase of growth.”

The funding round will be used to support Banxa’s global expansion efforts as they enter new markets throughout Europe, Asia, and Africa. 

This funding round is also envisaged to support further efforts of onboarding prospective customers as Banxa expands its global payment network.

Banxa offers a fully compliant fiat-to-crypto conversion service that provides regulatory compliance, fraud detection and mitigation, as well as payment reconciliation. Accommodating a host of global payment options including leading global credit card providers, bank transfers in the European Union, Australia, and the United Kingdom, as well as cash payments, Banxa is able to offer high volume payment processing at low fees. Banxa’s B2B service launched in late 2019 and has already seen integrations with global crypto firms including Binance, OKEx, KuCoin and EDGE Wallet, servicing a combined customer base of over 20 million users.

Richard Kasteleinhttps://www.the-blockchain.com
In his 20s, he sailed around the world on small yachts and wrote a series of travel articles called, 'The Hitchhiker's Guide to the Seas' travelling by hitching rides on yachts (1989) in major travel and yachting publications. He currently lives in Groningen, the Netherlands where he has set down his anchor to raise a family and write. Founder and publisher of industry publication Blockchain News (EST 2015) and director of education company Blockchain Partners (Oracle Partner) – Vancouver native Richard Kastelein is an award-winning publisher, innovation executive and entrepreneur. He has written over 2500 articles on Blockchain technology and startups at Blockchain News and has also published in Harvard Business Review, Venturebeat, Wired, The Guardian and a number of other publications. Kastelein has an Honorary Ph.D. and is Chair Professor of Blockchain at China's first blockchain University in Nanchang at the Jiangxi Ahead Institute software and Technology. He has over a half a decade experience judging and rewarding some 1000+ innovation projects as an EU expert for the European Commission's SME Instrument programme as a startup assessor and as a startup judge for the UK government's Innovate UK division. Kastelein has spoken (keynotes & panels) on Blockchain technology at over 50 events in 30+ cities.
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