Banxa, a Melbourne, Australia- and Amsterdam, Netherlands based full-service, internationally compliant digital banking infrastructure provider, raised $2m in Series A funding round.
The round was led by NGC Ventures, with participation from Australian Securities Exchange (ASX) listed Thorney Investment Group Australia.
The company intends to use the funds to drive expansion across critical markets in Europe, Asia, and Africa.
Led by Domenic Carosa, Founder and Chairman, Banxa is a compliant digital banking infrastructure company which also offers a fiat-to-crypto conversion service and provides regulatory compliance, fraud detection and mitigation, as well as payment reconciliation solutions. It is currently accommodating a host of global payment options including leading global credit card providers, bank transfers in the European Union, Australia, and the United Kingdom, as well as cash payments. Banxa’s B2B service launched in late 2019 and has already seen integrations with global crypto firms including Binance, OKEx, KuCoin and EDGE Wallet, servicing a combined customer base of over 20 million users.