Fnality International secures £77.7m in Series B funding led by Goldman Sachs and BNP Paribas
The Series B round will help fund the deployment of the company's tokenised cash innovation and global liquidity management ecosystem.
Fnality International develops blockchain payments technology and distributed Financial Market Infrastructures for wholesale financial markets.
Fnality International has raised £77.7m in a Series B funding round co-led by Goldman Sachs and BNP Paribas. The capital will be directed towards building a global liquidity management ecosystem for digital payments and tokenised asset markets, alongside launching the Sterling Fnality Payment System.
Additional backing for the round came from market infrastructure providers and financial institutions including DTCC, Euroclear, Nomura, and WisdomTree. The company also saw continued participation from existing investors such as Banco Santander, BNY Mellon, Barclays, and UBS.
Established in 2019, the firm applies distributed ledger technology to wholesale financial markets to improve settlement speeds and liquidity management. The latest injection brings Fnality's total funding to £132.7m.
From the founder
"Our Series B funding round represents the financial sector’s desire for a central bank money backed blockchain-based settlement solution that bridges the gap between traditional finance (TradFi) and decentralised finance (DeFi) in wholesale markets. Each Fnality Payment System utilises DLT to provide a 24/7 payment rail with the ability to reduce settlement cycles to real-time, while significantly improving intraday liquidity management and marking significant innovation in the speed, functionality, and resilience of wholesale payments."
Rhomaios Ram
CEO at Fnality International
Investor perspective
"As the worlds of TradFi and DeFi converge, DTCC is committed to partnering with industry participants, regulators and other stakeholders to help introduce the standards and governance needed to accelerate ecosystem growth while ensuring the highest levels of market safety and stability. Our investment in Fnality builds upon our agreement to acquire Securrency and will help foster new digital payment rails that will be essential for establishing a robust digital infrastructure, enabling interoperability and driving adoption of digital assets."
Frank La Salla
President, CEO and Director, DTCC
Use of funds
- 01Continue product development
- 02Build out infrastructure
Investors
Mathew McDermott
Goldman Sachs
Olivier Osty
BNP Paribas
Frank La Salla
DTCC
Euroclear
Nomura
WisdomTree
Banco Santander
BNY Mellon
Barclays
CIBC
Commerzbank
ING
Lloyds Banking Group
Nasdaq
State Street
Sumitomo Mitsui Banking Corporation
UBS
Categories
About the company
Fnality International
Fnality International develops blockchain payments technology for wholesale financial markets.