Januar, a company building a crypto gate for European firms, has raised €6m in a seed funding round that is the largest in Danish history.
The round was led by Element Ventures and also saw participation from Angular Vetures, Outward VC and byFounders. A number of angel investors also contributed to the round.
Januar claims it is the European payment gate for crypto companies. The company stated it is on a mission to support a more open and collaborative financial system based on decentralised technology by offering fiat-to-crypto rails as a service.
The company claims the proceeds from the seed round will be used to help the firm become the ‘leading one-stop crypto gate for European businesses’.
Januar CEO and co-founder Simon Ousager said, “We are building financial infrastructure that will help crypto companies gain the stable foundation they need to innovate and serve their customers with peace of mind. For years, legacy financial service providers have failed to serve these new digital asset businesses, leaving them at risk of being shut down with days’ notice. It’s time we recognize that entrepreneurs building the future of our financial system deserve an IBAN account, like any other business.
“Traditional banks are not ready for what is happening in the crypto markets right now. For many years they focused on the ‘technology’ while writing off the actual category of innovative digital assets – their ‘Blockchain not Bitcoin’ strategy did not align with the market.
“And while the value and usage of assets, like Bitcoin and Ethereum, multiplied many times over, the dismissive approach of most banks left them with little insights into crypto-specific compliance measurements and an inability to properly serve and support the industry. With Januar, we are here to close that gap now by providing financial services to crypto businesses and crypto services to financial institutions.
“We are proud to enable innovative fintech entrepreneurs to run and grow their digital asset business by providing the financial infrastructure they need to build the financial system of tomorrow.”
Copyright © 2022 FinTech Global