France-based treasury management fintech, Fipto, has successfully raised EUR 15 million in a seed funding round led by Serena and Motier Ventures.
Fipto’s platform is tailored to streamline corporate treasury management and international payments, encompassing both fiat and digital currencies through the integration of blockchain technology. The funding for this endeavor was secured in a seed funding round led by Serena, with participation from Motier Ventures. This development follows Fipto’s accreditation as a Digital Asset Service Provider (DASP) by the French Financial Markets Authority (AMF) in March 2023, underscoring its commitment to stringent regulatory standards.
According to Fipto, the adoption of blockchain technology extends beyond its initial association with cryptocurrencies, now permeating various sectors, including financial services, retail, and supply chain management.
The growing integration of blockchain technology has introduced fresh challenges for corporations, particularly in areas such as corporate treasury management and digital asset payments. Central banks have taken notice of these developments, with a 2022 report from the Bank for International Settlements (BIS) highlighting the need to streamline international payments for both individuals and businesses through a comprehensive Central Bank Digital Currency (CBDC) program.
Fipto officials emphasized the advantages of digital currency payments, noting their potential to simplify international transactions compared to conventional methods, which often involve extended processing times, limited traceability, and significant intermediary costs. They also pointed out that existing digital currency payment solutions fall short in addressing compliance, security, asset valuation, and auditing challenges.
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 framework of strict compliance and financial regulations.
Going beyond payment processing, Fipto empowers clients to have complete control over their digital assets and effectively manage their corporate treasuries in full compliance with French DASP regulations and upcoming European MiCA regulatory requirements. The platform incorporates robust security measures and authorization 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 set to be implemented later this year. MiCA introduces a legal framework for all digital asset operators.
One of Fipto’s co-founders underscored blockchain’s transformative potential for businesses, citing advancements in security, technology, cost-efficiency, and trust. Serena and Motier Ventures were drawn to Fipto due to the founders’ extensive expertise in payments and blockchain technologies.
In an official press release, representatives from Serena expressed confidence in Fipto’s unique blend of experience, ambition, and proficiency in banking, payments, and blockchain technology, positioning Fipto as a global reference point for businesses seeking financial services rooted in innovative blockchain technology.
