TLDR:
- Coinflow Labs raises $2.25 million in seed funding led by CMT Digital
- Funding round includes participation from Reciprocal Ventures, Jump Crypto, Draper Dragon, Digital Currency Group, and angel investors
Exclusive CMT Digital led a $2.25 million seed round for web3 payments firm Coinflow Labs, with additional participation from Reciprocal Ventures, Jump Crypto, Draper Dragon, Digital Currency Group, and other angel investors. The funding brings Coinflow’s total funding to $3.7 million after pre-seed financing in early 2023. Following the seed round, CMT Digital investor Sam Hallene will join Coinflow’s board of directors. Coinflow Labs plans to use the funds to enhance sales, engineering, compliance, and other teams. The company’s payment platform allows for instant acceptance of payments and settlement of transactions with stablecoins, as well as the immediate sending of funds from stablecoins to a user’s bank account. Coinflow is focused on launching a payment platform for marketplace companies to enable sellers to receive funds instantly and generate additional revenue for marketplaces. The firm has partnered with traditional companies processing millions annually through payment processors like Stripe and plans to expand services to new businesses after early access in Q3.
