Investment into Finteum

RNS Number : 0589B

SuperSeed Capital Limited

30 September 2022

 

30 September 2022

SuperSeed Capital Limited

("SuperSeed Capital" or the "Company")

Investment into Finteum

SuperSeed Capital, a company established as a Venture Capital fund of funds for early-stage technology investing, is pleased to announce its primary holding, SuperSeed Fund II, has led a £1.3million Seed funding round into Finteum Ltd, a London fintech start-up that is creating a global financial market for intraday liquidity, enabling interbank lending for hours at a time, thereby allowing them to efficiently meet temporary liquidity needs. The platform aims to become a vital component of a bank's liquidity optimisation strategy and will help to reduce a bank's costs by millions of dollars per year. Banks can also use intraday markets to lend excess funds, representing a new revenue stream.

The platform is built on Distributed Ledger Technology which helps streamline the execution and settlement of trades. This enables banks to lend to each other for hours at a time through intraday FX swaps and intraday repo - something that is inefficient with traditional technology, which often settles in days rather than minutes.

The funds raised will enable Finteum to expand functionality and bring many more banking clients on board the platform. In addition, it will help the company attract and develop more talent this year to support the company's ambitious plans.

Three large European banks have already signed up to the platform which goes live for trading in early 2023, and more than a dozen other banks have expressed interest in joining the initial group.

Brian Nolan, Co-founder & CEO of Finteum, commented: 

"We are delighted to have the financing in place to grow our company and to support client banks until go-live and beyond. We are looking forward to working with more clients and partners in this next phase of Finteum's journey."

Mads Jensen, Director at SuperSeed Capital, commented: 

"Finteum provides an elegant way for top tier banks to earn yields on their reserve assets using Distributed Ledger Technology. We are proud to partner with Co-founders, Brian Nolan and Zbi Czapran, who are thought leaders in the intersection of distributed ledger technology and bank liquidity management. We expect the company to provide transformational technology to leading banks in the years to come".

For more information, please visit   www.superseed.com  or contact:

SuperSeed Capital Limited	[phone]
Mads Jensen, Investment Manager
VSA Capital - AQSE Corporate Adviser and Broker	[phone]
Corporate Finance: Andrew Raca Corporate Broking: Andrew Monk, Peter Mattsson, David Scriven

Notes to Editors

SuperSeed Capital Limited is listed on the Aquis Stock Exchange in February 2022 and will be investing as a limited partner of SuperSeed Ventures' LLP second fund, SuperSeed Ventures II LP ("Fund II"). The Company may also invest in other investment funds managed or advised by SuperSeed Ventures or any affiliate of SuperSeed Ventures or other investment funds managed or advised by third parties other than SuperSeed Ventures.

 

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