Goldman, BNP Paribas lead $95M round for London-based fintech Fnality

November 14, 2023 08:46 AM PST | By Invezz

Fnality eyes a blockchain-based payments solution

The Series B round brings Fnality’s total financing to £132.7 million (165.3 million). The firm will use the funds to continue the development of its crypto business, which involves a wholesale payments and liquidity management ecosystem. This was shared in a press release.

Rhomaios Ram, CEO of Fnality International, said in a statement:

“Our Series B funding round represents the financial sector’s desire for a central bank money backed blockchain-based settlement solution that bridges the gap between traditional finance (TradFi) and decentralised finance (DeFi) in wholesale markets.”

The company’s Sterling Fnality Payment System (£FnPS) utilises distributed ledger technology (DLT) to provide a payment rail with real-time settlements accessible 24/7. Fnality expects to launch the payments system by the end of this year, with this development subject to approval from the Bank of England.

Fnality International has partnered with the Ethereum Enterprise Alliance (EEA) and is a member of the International Securities Services Association (ISSA).

The post Goldman, BNP Paribas lead $95M round for London-based fintech Fnality appeared first on Invezz

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