Sling Money raises £11.6m in Series A funding led by Union Square Ventures
Union Square Ventures led the round, with participation from Ribbit Capital and Slow Ventures.
Sling Money provides a mobile application designed to facilitate instant and low-cost global money transfers using stablecoin technology. The platform connects with traditional fiat payment systems to enable cross-border transactions across multiple countries.
Sling Money has secured £11.6m in a Series A funding round led by Union Square Ventures, alongside participation from Ribbit Capital and Slow Ventures. The capital will support the continued rollout of the company application, which uses stablecoin technology to enable instant and low-cost international transfers across more than fifty countries.
The company previously raised a $5m seed round led by Ribbit Capital with backing from Slow Ventures. The current funding marks a fresh injection of capital for the team, which comprises veterans from companies such as Facebook, Spotify, and Monzo Bank.
Investor perspective
"Sling Money represents a fundamental shift in the global payments landscape, offering a platform for effortless, instant transactions,"
Rebecca Kaden
Partner, Union Square Ventures
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About the company
Sling Money
Sling Money develops an application for instant and low-cost international money transfers.