Centi Closes Seed Financing round led by Archblock and Bloomhaus Ventures, advancing blockchain-based micropayments and financial inclusion

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Dec 20, 2023, 04:16 ET

ZURICH, Dec. 20, 2023 /PRNewswire/ -- Centi is proud to announce the successful completion of its seed financing round led by Archblock and Bloomhaus Ventures with continued investments from existing shareholders and founders. Recognized for its proficiency in processing transactions as small as a cent, Centi is poised for the global expansion of its blockchain-based micropayment solutions and an increased footprint in promoting financial inclusion. The funds secured in this financing round will fuel Centi's mission to revolutionize digital transactions on a global scale.

Archblock and Bloomhaus: Supporting Centi's Vision for Change

Archblock and Bloomhaus Ventures have not only invested in Centi but have become steadfast champions of its vision: "Our investment signifies our belief in Centi's potential to innovate in the fintech landscape", says Alex de Lorraine CEO of Archblock, who spearheaded the financing round. "Our expertise in blockchain and digital currencies perfectly aligns with Centi's approach. Centi presents a highly intelligent solution to the global challenges posed by micropayments today", says Pascal Stürchler, Co-Founder and CEO of Bloomhaus Ventures. "Leveraging our extensive global network, we are poised to offer valuable support in enabling Centi to extend its transformative solutions beyond Switzerland and into other international markets."

Founder's Insight

"We founded Centi driven by the potential of blockchain for micropayments and financial inclusion," states Bernhard Müller, Co-Founder of Centi. "The name 'Centi' itself, derived from our capability to process transactions as small as one cent, encapsulates this focus. The success of our financing round is a testament to being on the right trajectory and receiving support for our mission to revolutionize current payment processes with the Centi stablecoin."

Centi: Addressing Payment Industry Shortcomings with Proprietary Stablecoin Technology

Centi is redefining the payment industry by introducing real-world applications of blockchain technology, specifically addressing two of its most significant shortcomings: the inefficiency of micropayments and the lack of financial inclusion. Through its proprietary stablecoin technology, Centi not only achieves compatibility with existing payment infrastructures but also pioneers innovative solutions in these critical areas.

Micropayments (B2B): Centi confronts the inefficiency in processing micropayments, enabling transactions as minimal as a cent, and unlocking new opportunities for digital content monetization.
Financial Inclusion (B2C): Centi offers a direct-to-consumer stablecoin that can be purchased with physical cash, providing a crucial gateway for the unbanked into the world of digital payments and credit cards.

A Bold Step Forward in Fintech

Centi's approach demonstrates the practical and transformative impact of blockchain technology, moving beyond theoretical possibilities to deliver applications that enhance and complement the existing payment landscape.

About Centi

Centi leverages blockchain technology to provide innovative, accessible, and efficient financial solutions. Centi focuses on micropayments and financial inclusivity and directly addresses the shortcomings of the current financial system, establishing Centi as pioneers in the practical application of blockchain technology.

https://centi.ch

About Archblock

Since 2017, Archblock has been a leader in building and managing institutional-grade stablecoins and enabling open access to financial opportunities and global trade. Archblock created, launched, and managed TUSD, a leading USD-backed stablecoin. Archblock Stablecoins owns and operates a portfolio of three fiat-backed stablecoins and offers the technical and operational foundation to build white-label stablecoins for others. Additionally, the Archblock team developed and launched TrueFi in November 2020. TrueFi was DeFi's first credit-based lending protocol, providing on-chain infrastructure for capital formation and deployment. The protocol has facilitated over +$1.8B in on-chain investments since inception.

About Bloomhaus

Bloomhaus is a Swiss venture capital firm focused on empowering game-changing tech startups in Central Europe to flourish globally and to create a more sustainable tomorrow. Drawing on their expertise as entrepreneurs, technologists and investors Bloomhaus nurtures pioneers bringing them together with the resources and expertise they need for lasting success.

SOURCE Centi