BoomFi, a next-generation payments company, has raised $3.8 million in an oversubscribed seed funding round led by White Star Capital. The funds will be used to streamline crypto and digital currency payments for various types of merchants and expand the company’s presence in the web3 sector.
Facts
- BoomFi has raised $3.8 million in an oversubscribed seed funding round led by White Star Capital.
- Stablecoin settlements in 2022 reached $7.2 trillion, experiencing a 47x increase since the onset of the COVID-19 pandemic.
- A survey by Worldpay and Crypto.com reveals that 60% of 1.5 million merchants are ready to accept crypto, but only 4% currently offer this option.
- BoomFi aims to streamline payments across different blockchains and traditional payment rails into one seamless experience.
- Notable investors and industry figures, including White Star Capital, Passion Capital, and Kraken Ventures, participated in BoomFi’s seed round.
- BoomFi offers an all-in-one product that supports various payment models and integrates both crypto and fiat systems, ensuring a superior user experience.
- BoomFi plans to launch its public beta in the coming months, along with strategic partnerships and expanded merchant onboarding.
