Blockchain solution developer SettleMint has secured €1.9m in an investment round which will support the international expansion of the platform.
Netherlands-based venture firm KPN Ventures led the round. Other contributions came from previous Settlement backer Medici Ventures.
Capital from the round is earmarked for supporting the international expansion and commercialization of the platform.
SettleMint offers infrastructure and developer tools which ease the use of blockchain technology. The platform can be deployed and integrated with existing infrastructure and APIs and a plethora of tools are available to customise the platform.
One of its clients is the Islamic Development Bank Group which uses the blockchain service to build Sharia-compliant financial products.
SettleMint co-founder and CEO Matthew Van Niekerk said, “When you recognise the benefits of this technology for the economy and for society, you have a moral obligation to make it easy for developers to use, to accelerate adoption. As with other cutting-edge technologies, getting to the inflection point of adoption requires a product that abstracts away complexity, tools that developers love to use and a solution that decision makers trust.
“With more than 30 use cases developed on the platform to date in the public and private sectors, several of which have exited the lab, we are excited to welcome KPN as a strategic investor and partner to accelerate the growth of SettleMint.”
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