Fiat-to-Crypto Gateway Solution Banxa Raises $2M USD In Series A Funding

Blockchain, Investing, News | January 16, 2020 By:

Fiat-to-crypto gateway solution Banxa has raised $2 million in a Series A funding round led by blockchain investment firm NGC Ventures. The round also saw participation from Australian Securities Exchange (ASX) listed Thorney Investment Group Australia, a multi-billion dollar family office that offers asset management, financial planning, and advisory services.

Banxa is an internationally compliant fiat-to-crypto gateway solution for exchanges, wallets and other cryptocurrency businesses. The company offers global and local payment methods like credit cards and retail store networks. The firm’s zero chargebacks and easy to integrate API enables exchanges, wallet providers and other industry players to offer their customers an easy and secure way to buy cryptocurrency.

The funding will be used to support Banxa’s global expansion efforts as they enter new markets throughout Europe, Asia, and Africa.

“After almost six years in the blockchain industry, our goal remains the same––to champion a fairer, more open and more secure financial system for the benefit of consumers and businesses alike,” said Domenic Carosa, Founder and Chairman of Banxa. “As a global payment infrastructure that looks to become the preferred digital banking service provider of the future, we now find ourselves entering this next phase of maturity as a company as we continue to support users looking to benefit from the full potential of their digital asset holdings.”

“Banxa is uniquely positioned within the crypto economy, primed to support the ever-evolving financial preferences of a digitally-savvy generation,” said Roger Lim, Founding Partner of NGC Ventures. “Banxa addresses the issue of user experience and onboarding while providing the much-needed regulatory assurances for newcomers to this nascent digital asset class. We are thrilled to support Banxa as they embark upon this next phase of growth.”