London-based FinTech startup Due has extended its Seed round, bringing its total funding to €6.3 million. The round was led by Speedinvest and will finance the launch of the company's new Stablecoin API, designed for borderless business payments.
Due provides businesses with a multi-currency account to send and receive funds in both fiat currencies and stablecoins. In addition, the company offers an embeddable API for other FinTech startups, including payment platforms, payroll systems, and neobanks. This allows them to integrate global transaction capabilities directly into their own products.
Unifying Fiat and Crypto Rails
The company's platform works by connecting local payment rails, liquidity markets, and blockchain networks into a single infrastructure. Consequently, it routes transactions through stablecoin and on-chain rails whenever possible. This approach provides mid-market foreign exchange rates, creating a more efficient alternative to legacy systems used by competitors like Wise and Airwallex.
Over 500 companies currently use Due's platform to move money globally.
The fresh capital will be used to scale the global Stablecoin API and expand its payment rails to cover over 100 countries and currencies. Due also plans to develop new payment solutions, such as invoices and cards, while hiring for its engineering and compliance teams to support its growth in blockchain technology.
