3 October 2022
NoFrixion, the Dublin-headquartered Fintech revolutionising business payments, today announced a €3.6 million funding round led by Delta Partners and Middlegame Ventures and joined by Furthr VC. The capital will be used to grow NoFrixion’s engineering and sales teams.
The funding comes soon after NoFrixion’s public launch of its MoneyMoov API, bridging legacy and digital infrastructure while simplifying payments automation and reconciliations. With customers in Ireland, UK, Belgium and Portugal, the company is leading the charge towards a fully digital payments landscape, with large systems integrators already signing up as partners.
“We’re fundamentally changing the simplicity and velocity of moving money for businesses. Getting paid and making payments has become increasingly expensive and complicated. We’re transforming that underlying infrastructure, driving towards instant low cost value transfer – both offline and online” said Feargal Brady, co-founder and CEO, NoFrixion.
NoFrixion’s mission is to enable money to move instantly – to make it easy to pay and get paid using a proven process they call Experiential Payments – making the payment process either invisible or an enjoyable event and save customers up to 95% on the cost of the payment. Business can replace their day-to-day payments operations, with a smart, connected current account and native access to international payments networks, including the Bitcoin Lightning Network.
“Internet banking promised much which it never fully delivered, and hasn’t evolved with the instant economy” said Feargal Brady, co-founder and CEO of NoFrixion. “MoneyMoov connects digital payments to ERPs, Accounting Platforms and core business applications, cutting out internet banking, manual processing and similar inefficiencies. It significantly reduces the time and cost overhead of moving money. We’ve assembled a world-class engineering team, with experience across traditional payments, but also with extraordinary bitcoin, security and user interface design expertise. We’re meeting the challenges of the instant economy, and building new digital rails to make commerce quicker, easier and cheaper.”
This content was originally published here.