BoomFi secures £3m seed investment led by White Star Capital to scale its crypto payments platform
The seed round was led by White Star Capital with participation from Passion Capital, Blockchain Founders Fund, and numerous angel backers.
BoomFi provides a payment processing platform that enables merchants to accept cryptocurrencies and traditional currencies across multiple blockchains. The company simplifies transactions by offering flexible billing models and integrations for web2 and web3 businesses.
BoomFi has secured £3m in a seed financing round led by White Star Capital to develop its multi-chain payment platform. The raise attracted participation from several other investors including Passion Capital, Blockchain Founders Fund, and Kraken Ventures. The capital will be directed towards product development and expanding the company merchant base.
The funding arrives as businesses face increasing demand for alternative payment methods, with stablecoin settlements growing significantly in recent years. BoomFi aims to bridge traditional financial systems and decentralised networks by offering integrated checkout plugins and invoicing tools.
From the founder
"The way we pay for things and send/receive money in the future will involve crypto rails and bridging traditional and decentralised systems. But today it’s riddled with a mirage of complexities and challenges."
Jack Tang
Co-founder & CEO at BoomFi
Investor perspective
"BoomFi is set to spearhead the crypto payment revolution. Their unwavering commitment to streamlining crypto transactions in the payment sector aligns flawlessly with the prevailing trends. We are witnessing a significant shift towards the utility phase of blockchain technology and crypto, where goods and services seamlessly integrate, and BoomFi’s dedication perfectly captures this evolving landscape"
Sep Alavi
General Partner, White Star Capital
Use of funds
- 01Continue product development
Investors
Sep Alavi
White Star Capital
Passion Capital
Tobias Bauer
Blockchain Founders Fund
Kraken Ventures
GSR
Aquanow
Mantle Network
Moonpay
Ramp Network
Transak
Layer Zero
The Giving Block