TORONTO, July 31,
2024 /PRNewswire/ -- Layer2 Financial—the regulated
payments infrastructure transforming cross-border payments—is
thrilled to announce their $10.7
million Series A funding round. This round was led by Galaxy
Ventures, with key participation from Accomplice. The new funding
will accelerate Layer2's mission to revolutionize the way money
moves around the globe.
The announcement comes in the wake of incredible growth for
Layer2. The company's innovative approach to payment infrastructure
utilizes both fiat and digital currencies to securely move billions
of dollars annually, and has seen a consistent 20%+
month-over-month increase in transaction processing volumes as more
businesses seek efficient, transparent, and compliant ways to issue
payments across jurisdictions. Layer2 serves a diverse range of
customers including non-bank financial institutions, traditional
banks, neobanks, enterprise orgs, and other payments companies.
"This Series A funding is a significant milestone for Layer2,
and for cross-border payments," says Bhanu
Kohli, CEO and Founder of Layer2 Financial. "Global payments
infrastructure can finally match the speed of business by combining
the transparency and immediacy of digital currency with the
security of fiat — we're thrilled to be leading this change."
Layer2 Financial's plans for the Series A funding include
product development, market expansion, tech infrastructure, and the
talent acquisition to ensure all of those aspects are best in
class.
"Cross-border B2B payments are fundamentally complex, and
Layer2's approach to solving these challenges is groundbreaking,"
adds Mike Giampapa, General Partner
at Galaxy Ventures. "The evolution of the payments system,
especially leveraging digital assets and stablecoins alongside
fiat, presents a unique opportunity that we are very excited to be
a part of — Layer2's platform is uniquely positioned to disrupt the
traditional payments ecosystem, making international money movement
faster, more transparent, and cost-effective."
Layer2 Financial is distinguished in the market by its ability
to support a wide range of use cases as a single-source provider.
The company's extensive partner network includes financial
institutions and payment processors, enabling them to tackle the
complexities of global, cross-border payments. This includes
international support in multiple currencies, high-capacity
transaction processing, configurable virtual account naming
conventions, third-party payments, and tokenized payments,
conversions, and exchanges.
As Layer2 continues to grow, expect more announcements about new
partnerships, customers, and company milestones.
About Layer2 Financial
Layer2 is a global, regulated payments infrastructure that makes
cross-border money movement fast, simple, and secure. Our
multi-partner platform is designed to provide businesses with
compliant payments for multiple currencies. With just one API, you
can provide Collections, Pay Outs, FX and more.
For media inquires
Ryan
Miller, CRO
ryan.miller@layer2financial.com
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SOURCE Layer2 Financial