Seed capital to foster financial inclusion

Based in Zurich, Centi uses blockchain to develop solutions to enable micropayments and financial inclusivity. The €1.8 million from its seed round, led by Archblock and Bloomhaus Ventures, will fuel its global expansion.

Founded in 2020, Centi is redefining the payment industry by introducing real-world applications of blockchain, specifically addressing two of its most significant shortcomings: the inefficiency of micropayments and the lack of financial inclusion. Through its proprietary stablecoin technology, running on a highly performant layer 1 blockchain, Centi not only achieves compatibility with existing payment infrastructures but also pioneers innovative solutions in two critical areas.

For Micropayments (B2B), Centi confronts the inefficiency in processing micropayments, enabling transactions as minimal as a cent and unlocking new opportunities for digital content monetisation. For Financial Inclusion (B2C), Centi offers a direct-to-consumer stablecoin via a mobile app, allowing consumers to purchase the Centi Franc Stablecoin (CCHF) with physical cash. The solution provides a crucial gateway into digital payments and credit cards for the unbanked. With this approach, sending remittances and peer-to-peer transactions is easier. CCHF is today positioned as the ideal digital payment token, backed by a Swiss Bank Guarantee.

To fuel its growth, the Zurich-based startup has finalised a €1.8 million seed financing round led by Archblock and Bloomhaus Ventures with continued investments from existing shareholders and founders. The funds will fuel Centi’s mission to revolutionise digital transactions on a global scale.

“We founded Centi driven by the potential of blockchain for micropayments and financial inclusion” states Bernhard Müller, Co-Founder of Centi. “The name ‘Centi’, derived from our capability to process transactions as small as one cent, encapsulates this focus. The success of our financing round is a testament to being on the right trajectory and receiving support for our mission to revolutionize current payment processes with the Centi stablecoin.”

Expressing his enthusiasm, Alex de Lorraine CEO of Archblock, said, “Our investment signifies our belief in Centi’s potential to innovate in the fintech landscape. Our blockchain and digital currencies expertise perfectly aligns with Centi’s approach.” Archblock created, launched, and managed TUSD, a leading USD-backed stablecoin. In 2020, the Archblock team also developed and launched TrueFi, DeFi’s first credit-based lending protocol, providing on-chain infrastructure for capital formation and deployment. The protocol has facilitated over +$1.8B in on-chain investments since its inception.

“Centi presents a highly intelligent solution to the global challenges posed by micropayments today”, says Pascal Stürchler, Co-Founder and CEO of Bloomhaus Ventures. “Leveraging our extensive global network, we are poised to offer valuable support in enabling Centi to extend its transformative solutions beyond Switzerland and into other international markets.” The Swiss venture capital firm aims to empower game-changing tech startups in Central Europe to flourish globally and to create a more sustainable tomorrow. 

(Press release)