Merge secures £7.5m in a seed round led by Octopus Ventures to build web3 banking infrastructure.
Octopus Ventures led the financing, which included backing from Hashed, Coinbase Ventures, and several prominent industry angels.
Merge provides a banking and payments platform that connects traditional fiat and crypto ecosystems for web3 businesses. The company delivers API-based financial services designed to help crypto firms manage accounts, transfers, and compliance.
Merge has secured £7.5m in a seed round led by Octopus Ventures to develop its API-based banking and payments platform.
The raise included participation from Hashed, Coinbase Ventures, Alameda Research, and Ethereal Ventures, alongside prominent angel investors such as the founder of Aave, the co-founder of Polygon, the CEO of Ledger, and the former CEO of Barclays Consumer Banking.
The capital will support the company as it works to bridge the gap between traditional finance and the web3 economy, addressing the difficulties crypto firms face in accessing mainstream financial services.
Investor perspective
"Merge's vision is to build the infrastructure necessary to allow crypto businesses to operate without fear of shutdown by regulators or third-party risk teams. We're excited to back them as they build that and, ultimately, unleash even more innovation in crypto and defi."
Zihao Xu
Investor, Octopus Ventures
Use of funds
- 01Continue product development
