Fnality completes £78m fundraise

Blockchain payments firm Fnality International has concluded a £77.7 million Series B funding round led by Goldman Sachs and BNP Paribas.

Fnality said the funding will go towards the establishment of a “world-first” global liquidity management ecosystem which aims to facilitate new digital payment models in wholesale financial and emerging tokenised asset markets. .

The company, which was established in 2019 to develop regulated distribute ledger technology (DLT) based wholesale payment systems, said that the funding received to date has helped it demonstrate its abilities to provide real-time settlement of tokenised securities, real-time cross-border financial exchange swaps, and real-time repo transactions.

Fnality claimed that these capabilities have evidenced the “potential inherent in leveraging DLT to facilitate traditional financial activity and achieve faster, safer and more efficient exchange of value in global wholesale markets.”

The Series B funding round was also joined by DTCC, Euroclear, Nomura and WisdomTree and also featured additional investments from Series A investors including Santander, BNY Mellon, and Barclays.

"Our Series B funding round represents the financial sector’s desire for a central bank money backed blockchain-based settlement solution that bridges the gap between traditional finance and decentralised finance in wholesale markets,” said Fnality chief executive Rhomaios Ram. “Each Fnality Payment System utilises DLT to provide a 24/7 payment rail with the ability to reduce settlement cycles to real-time, while significantly improving intraday liquidity management and marking significant innovation in the speed, functionality, and resilience of wholesale payments.”

    Share Story:

Recent Stories


Safeguarding economies: DNFBPs' role in AML and CTF compliance explained
Join FStech editor Jonathan Easton, NICE Actimize's Adam McLaughlin and Graham Mackenzie of the Law Society of Scotland as they look at the role Designated Non-Financial Businesses and Professions (DNFBPs) play in the financial sector, and the challenges they face in complying with anti-money laundering and counter-terrorist financing regulations.

Ransomware and beyond: Enhancing cyber threat awareness in the financial sector
Join FStech editor Jonathan Easton and Proofpoint cybersecurity strategist Matt Cooke as they discuss the findings of the State of the Phish 2023 report, diving into key topics such as awareness of cyber threats, the sophisticated techniques being used by criminals to target the financial sector, and how financial institutions can take a proactive approach to educating both their employees and their customers.

Click here to read the 2023 State of the Phish report from Proofpoint.

Cracking down on fraud
In this webinar a panel of expert speakers explored the ways in which high-volume PSPs and FinTechs are preventing fraud while providing a seamless customer experience.

Future of Planning, Budgeting, Forecasting, and Reporting
Sage Intacct is excited to present FSN The Modern Finance Forum’s “Future of Planning, Budgeting, Forecasting, and Reporting Global Survey 2022” results. With participation from 450 companies around the globe, the survey results highlight how organisations are developing their core financial processes by 2030.