EXCLUSIVE: Fipto raises €15 million

Launched in early 2022, the French start-up has developed a payment and digital currency management solution for businesses.

While some start-ups in the crypto industry are suffering from the crisis, others like Fipto are managing to survive. According to our information, the start-up 🇫🇷, which offers a digital currency management solution for businesses, has just raised... €15 million 💰.

A number of investors, including the Serena fund, took part in the seed round for the start-up, which already has around 30 employees. Most of them are in France, the rest in Europe.

Launched in March 2022, Fipto has developed a "B2B" payment and cash management platform. "Companies are increasingly using digital currencies, whether euros, cryptocurrencies or stablecoins," explains Patrick Mollard, who is CEO of Fipto. "We want to help them manage this money."

Currently, Fipto only has a Beta version of its platform, which can manage payments, salaries, invoices in fiat and cryptos.... Fipto can handle around ten cryptocurrencies, including bitcoin, ether, SOL (Solana) and MATIC (Polygon). "We will be accepting more in the coming weeks," stresses Patrick Mollard, who was COO at IbanFirst, one of Europe's leaders in cross-border payments.

The live version of Fipto will be available in October. Storage of digital assets is provided by Fireblocks, which is one of the leaders in the sector.

With its fund-raising, Fipto, which charges commission on each transaction, aims to win new customers. It currently has around ten, including France's Smartchain.

It also wants to roll out its offering more globally in Europe and speed up the process of obtaining approval as a digital asset service provider (PSAN) from the Autorité des marchés financiers (AMF); Fipto already has PSAN registration.

The advantage of approval is that it will be able to expand the range of services it offers to businesses and "develop other products", insists Patrick Mollard. For the moment, only Société Générale-Forge has obtained PSAN approval.

Fipto is not the only start-up betting on crypto payment and cash management services. Other start-ups such as Nilos and Multis, which have each raised $6m and $7m in 2022, also have well-structured offerings.

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