Centi has announced the completion of its seed financing round led by Archblock and Bloomhaus Ventures with continued investments from existing shareholders and founders. Recognised for its proficiency in processing transactions as small as a cent, Centi is poised for the global expansion of its blockchain-based micropayment solutions and an increased footprint in promoting financial inclusion. The funds secured in this financing round will fuel the company’s mission to revolutionise digital transactions on a global scale.

Archblock and Bloomhaus Ventures have not only invested in Centi but have become steadfast champions of its vision. Pascal Stürchler, Co-Founder and CEO of Bloomhaus Ventures, said: “Our expertise in blockchain and digital currencies perfectly aligns with Centi’s approach. Centi presents a highly intelligent solution to the global challenges posed by micropayments today. Leveraging our extensive global network, we are poised to offer valuable support in enabling Centi to extend its transformative solutions beyond Switzerland and into other international markets.”

Centi to introduce real-world applications of blockchain technology

Bernhard Müller, Co-Founder of Centi, commented: “We founded this company driven by the potential of blockchain for micropayments and financial inclusion. The name ‘Centi’ itself, derived from our capability to process transactions as small as one cent, encapsulates this focus. The success of our financing round is a testament to being on the right trajectory and receiving support for our mission to revolutionise current payment processes with the stablecoin.”

Centi is hopeful to change the payment industry by introducing real-world applications of blockchain technology. Specifically addressing two of its most significant shortcomings: the inefficiency of micropayments and the lack of financial inclusion. Through its proprietary stablecoin technology, it not only achieves compatibility with existing payment infrastructures but also excels with solutions in these critical areas.

Centi confronts the inefficiency in processing micropayments, enabling transactions as minimal as a cent, and unlocking new opportunities for digital content monetisation. It offers a direct-to-consumer stablecoin that can be purchased with physical cash, providing a crucial gateway for the unbanked into the world of digital payments and credit cards.

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By GlobalData