Introduction
Fnality International, a UK financial infrastructure fintech, has recently completed its Series B funding round, raising £77.7m. The round saw participation from leading banks and financial services companies, including Goldman Sachs and BNP Paribas.
Investors
The Series B funding round included a mix of new and existing investors. Lead investors in the round were Goldman Sachs and BNP Paribas, with additional contributions from DTCC, Euroclear, Nomura, and WisdomTree. Series A investors such as Banco Santander, BNY Mellon, Barclays, CIBC, and others also participated.
Fnality’s Objectives
Fnality, which previously raised £55m in a Series A funding round in June 2019, aims to launch its Sterling Fnality Payment System this year. The company’s ultimate goal is to enable real-time settlement of tokenised securities, cross-border FX swaps, and repo transactions.
Benefits of Fnality’s Solution
Fnality’s solution combines the safety and institutional quality of central bank money with the innovative functionality and resilience of blockchain technology. The platform aims to streamline complex processes, reduce costs, and ensure regulatory compliance in global markets.
Future Outlook
The successful Series B funding round demonstrates the financial sector’s demand for a central bank money-backed blockchain-based settlement solution that bridges the gap between traditional finance and decentralised finance in wholesale markets. Rhomaios Ram, CEO of Fnality International, highlights that the Fnality Payment System provides a 24/7 payment rail with the ability to reduce settlement cycles to real-time, improving liquidity management and marking significant innovation in wholesale payments.
