Arf has raised $13 million in a seed round of equity and debt funding from prominent investors in the Web3 and institutional finance sectors, including the investors of Coinbase, Solana, FTX, and Kabbage.
Together with the Stellar Development Foundation (SDF), United Overseas Bank (UOB) Venture Management, Signum Capital, Hard Yaka, NGC Ventures, Blockchain Founders Fund, and 500 Emerging Europe, Circle Ventures participated in the round.
Arf is a global settlement banking platform that gets rid of the capital-intensive business model of the cross-border payments industry. It does this by giving licensed money service businesses and financial institutions access to digital asset-based working capital and settlement services with native on-ramp and off-ramp capabilities.
The company plans to use the injection of capital to advance the development of its blockchain-based technology in order to offer global treasury management and working capital credit lines to financial institutions and licensed money service businesses operating in the cross-border payments industry.
“We are delighted to see prominent Web3 and institutional finance investors validate our vision and join forces with us,” said CEO Ali Erhat Nalbant.
“Arf’s technology sits right at the center of cross-border payments evolution. This funding round will help us scale Arf to free up trillion dollars worth of locked working capital in the industry,” he added. “We’ll keep leveraging digital assets and Web3 technologies to fuel the transformation in global finance in a fully compliant way.”
With the seed money, the company will develop and promote new cross-border payment technologies that will change the way things are done by combining the best of Web3 and traditional finance.
The Financial Services Standard Association recently gave Arf their blessing (VQF). The company opened a new office in Zug and began to grow its staff.
In April, Arf also announced the launch of Arf Credit Line, which gives money service businesses instant access to transactional working capital credit lines and lets any corridor be post-funded in real time.
