Coinflow Labs, an instant settlement payment provider, has successfully closed a $2.25M seed round.
This funding was led by CMT Digital, with additional investments from Reciprocal Ventures, Jump Crypto, Draper Dragon, Digital Currency Group, and various angel investors. Following a pre-seed round in early 2023, this new investment sees many investors increasing their commitment.
Coinflow’s solution addresses the delays merchants face in receiving payments, offering instant settlements in stablecoins and instant fund disbursements to bank accounts using real-time payment systems like Visa Direct and RTP. The company’s technology operates on multiple blockchains, with over 50 merchants currently using its services, and has experienced over 100% growth in processed volume last quarter. Coinflow has secured partnerships with several US banks to support its operations and plans to expand its services to more jurisdictions in 2024.
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CEO Daniel Lev highlighted the company’s role in integrating traditional finance with blockchain technology to improve payment systems amid global financial volatility. Sam Hallene from CMT Digital commended Coinflow’s innovative approach to bridging web3 and traditional systems, aligning with their mission to invest in transformative blockchain technologies.
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