Due Secures €6.3 Million to Revolutionize Borderless Payments
Due, a groundbreaking borderless payment startup founded by former members of Revolut, has successfully extended its seed funding round to €6.3 million. This capital injection will enable the launch of its innovative API platform, designed to provide companies with seamless access to Stablecoin payments as part of the ongoing transformation in global finance through blockchain technology.
Funding Partners and Growth Potential
The funding round saw participation from prominent investors including Speedinvest, Semantics, Fabric Projects, Stroboscopic Activities, and Polymorphic Capital. This funding more than doubles Due’s initial increase of €2.8 million, fueling the company’s mission to create accessible payment solutions for users across the globe, regardless of borders.
CEO Insights on Financial Innovation
Robert Sargsian, Founder and CEO of Due, stated, “Moving money abroad is like sending a fax in the streaming era. With our single API line, we are transforming the world into a unified monetary area, delivering real-time transactions that are 5 to 10 times cheaper than traditional wire transfers.” This remark highlights Due’s commitment to reducing costs and enhancing the efficiency of cross-border payments.
Overview of Due’s Services
Founded in 2022, Due’s platform provides businesses with a transparent multi-currency account that allows them to send and receive funds in both local and foreign fiat currencies, as well as stablecoins. The firm’s integrated API is tailored for fintech companies seeking to build a payment platform, payroll system, cryptocurrency wallet, or neobank, enabling them to easily manage global transactions.
Real-Time FX and Unified Infrastructure
Due’s API facilitates real-time foreign exchange (FX) and regulatory compliance across over 80 markets with a single integration. By combining local payment networks, liquidity markets, and blockchain technologies, Due offers seamless financial infrastructure that allows clients to expand rapidly while providing a transparent user experience.
Client Success Stories
Today, more than 500 companies leverage Due’s platform to manage their international payment needs. Examples include:
- Rainforest Builder: An international reforestation initiative utilizing Due to fund tree planting efforts across various currencies.
- Regional Neobanks: Implementing Due’s solutions to offer customers virtual portfolios in EUR and USD, allowing for cost-effective international transfers.
- Extended: A rapidly growing exchange using Due’s platform to connect traders in over 80 countries.
- Mexican Importer: Making same-day payments to Chinese suppliers using stablecoin rails, thus avoiding traditional payment delays and costs.
- Nective: A cost-free crypto investment platform powered by Due, enhancing accessibility in emerging markets.
- LEDN: Utilizing Due’s payment capabilities for global loan disbursements to clients.
Future Prospects and Operations
Olga Shikhasova, Partner at Speedinvest, remarked, “Transnational payments are among the most challenging issues to resolve, and stablecoins are a key part of the solution. Due addresses this with an infrastructure-focused approach, simplifying transactions through a compliant API.” This upcoming funding will enable Due to enhance its global Stablecoin API for faster real-time settlements, aiming to extend its reach to over 100 countries by year-end.
Expanding Services and Team Growth
In addition to scaling its API services, Due plans to introduce more payment solutions including invoicing, card services, and return accounts. The company will also hire additional engineering and compliance experts to support its growth trajectory, striving to set new standards in the world of borderless payments.