Layer2 Financial, a regulated payments infrastructure company, is making headlines with its latest funding achievement.
The firm has successfully raised $10.7m in a Series A round led by Galaxy Ventures, accompanied by significant support from Accomplice. This capital injection is poised to further propel the company’s ambitious plans to revolutionise global money movement.
Layer2 Financial specialises in transforming the landscape of cross-border payments. By leveraging both fiat and digital currencies, the company facilitates secure and massive fund transfers across the globe.
Their innovative system has already proven successful, as evidenced by a consistent monthly increase of over 20% in transaction processing volumes. This growth reflects the increasing demand from various businesses, including non-bank financial institutions, traditional banks, and neobanks, for efficient and compliant payment solutions.
The new funds will be channelled towards product development, market expansion, enhancing tech infrastructure, and recruiting top-tier talent. These initiatives are critical for Layer2 Financial to maintain and accelerate its growth trajectory in the competitive payments industry.
Moreover, Layer2 Financial stands out in the market with its comprehensive service offering. The company supports a plethora of payment-related use cases through a vast network of partners, including financial institutions and payment processors. Their services include handling multiple currencies, high-capacity transactions, and advanced features like configurable virtual account names, third-party payments, and tokenized transactions.
Layer2 Financial CEO and Founder Bhanu Kohli expressed his excitement about the funding: “This Series A funding is a significant milestone for Layer2, and for cross-border payments,” he said. “Global payments infrastructure can finally match the speed of business by combining the transparency and immediacy of digital currency with the security of fiat — we’re thrilled to be leading this change.”
Source: FINTECH G L O B A L
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