Monerium, a Reykjavik, Iceland-based fintech startup bringing full asset backed, redeemable, and regulated e-money to blockchains through a licensed institution, raised a total of $2M in seed funding.
The latest round was led by Crowberry Capital, with participation from NY-based blockchain software technology company ConsenSys, and Hof Holdings.
The proceeds of the seed round will be used to accelerate the development of the company’s services.
Founded in September 2016 by its chairman Jón Helgi Egilsson, CEO Sveinn Valfells, CTO Gísli Kristjánsson, and COO Hjörtur Hjartarson, Monerium aims to make currency accessible, secure, and simple to transact by issuing asset-backed, redeemable, and regulated e-money on blockchains through a licensed institution. Earlier this year, the company completed and submitted an application to become a licensed financial services company in the European Economic Area through a wholly-owned subsidiary.
Monerium counts a team of fourteen people in Reykjavik, Sweden, the US and UK.