Finteum secures £1.3m in seed funding led by SuperSeed to scale liquidity platform
The investment round led by SuperSeed will support platform scaling and engineering talent acquisition.
Finteum is a London-based fintech company that provides a trading platform for banks to manage intraday liquidity. The firm uses distributed ledger technology to streamline execution and settlement for short-term borrowing and lending.
Finteum has secured £1.3m in a seed funding round led by SuperSeed. The London-based fintech start-up will direct the capital towards scaling its intraday liquidity management platform, which helps banks optimise reserve assets and reduce costs.
Basel III regulations have increased the cost of holding liquid assets, prompting banks to seek ways to manage temporary liquidity needs efficiently. Finteum operates a trading platform built on distributed ledger technology, enabling banks to conduct intraday FX swaps and repos settled in minutes rather than days.
The company has already signed up three large European banks ahead of its platform launch in early 2023. The new funding will allow the team to expand product functionality, bring additional banking clients on board, and hire engineering talent.
From the founder
"We are delighted to have the financing in place to grow our company and to support client banks until go-live and beyond. We look forward to working with more clients and partners in this next phase of Finteum’s journey."
Brian Nolan
Co-founder and CEO at Finteum
Investor perspective
"Finteum provides an elegant way for top tier banks to earn yields on their reserve assets using Distributed Ledger Technology (DLT). We are proud to partner with Brian and Zbi, who are thought leaders in the intersection of DLT and bank liquidity management. We expect the company to provide transformational technology to leading banks for many years to come"
Mads Jensen
Managing Partner, SuperSeed
Use of funds
- 01Grow the team
- 02Continue product development
