Higlobe, a Palo Alto, CA-based provider of a solution for international payment transfers, raised $14M in funding.
The round was led by Battery Ventures. Battery Senior Partner Scott Tobin will join Higlobe’s board.
The company intends to use the funds to accelerate growth and expand operations.
Founded in 2020 by CEO Teymour H. Farman-Farmaian and CTO Jeff Bolton, Higlobe uses asset-backed stablecoins to provide a means of making cross-border payments between bank accounts. The company exclusively uses stablecoins issued by companies that are regulated and supervised by U.S. federal or state agencies and that are 1:1 backed by U.S. dollars or U.S. government treasury securities. Its service offers customers the ability to make multiple transfers per month for one flat rate. Higlobe is currently available in Mexico, free for a limited time, to Mexican citizens or legal permanent residents that work with business clients in the U.S. Users can sign up for Higlobe’s service online where they must provide proof of identity and residence.
Other investors include TTV Capital, FjLabs, Reciprocal Ventures, Paxos, DCG, Raptor Group, and Gokul Rajaram.
FinSMEs
20/09/2022