BoomFi Raises $3.8M in Seed Funding


BoomFi, a London, UK-based payments company, raised $3.8M in Seed funding.

The round was led by White Star Capital with participation from Passion Capital, Blockchain Founders Fund, Kraken Ventures, GSR, Aquanow, Mantle Network, founders from Moonpay, Ramp Network, Transak, Layer Zero, The Giving Block and former execs from Stripe, Revolut and Worldpay.

The company intends to use the funds for strategic partnerships, product development, and expanding the merchant base in the web3 sector.

Co-founded by serial tech entrepreneur Jack Tang and fintech product executive Michael Si, BoomFi is a crypto payment processor, enabling businesses to accept cryptocurrencies across a wide range of blockchains and currencies in a compliant and safe manner. Businesses can accept one-time payments, recurring payments, metered and invoicing available through no-code, low-code and SDK/API options. They can settle funds in their preferred crypto wallet or bank account, bridging fiat and crypto economies.

The company’s crypto checkout plugins will be available across major eCommerce, payment orchestration and billing management platforms in the coming months as Alternative Payment Methods, making crypto payments across blockchains even more accessible and compliant for businesses.