Due, a borderless payments startup founded by a Revolut alumnus, has extended its seed round with an additional £3m investment as it launches its stablecoin API.
Founded in 2022, Due offers businesses multi-currency accounts that allow the sending and receiving of funds between fiat currencies and stablecoins – cryptoassets pegged to the value of traditional assets.
The company is expanding its business with the launch of an embeddable API for fintechs looking to offer cross-border payments and crypto wallets.
“Moving money internationally still feels like sending a fax in the age of streaming. With Due, a single API line makes the world one currency zone, delivering real-time settlement at fair FX that’s five to ten times cheaper than legacy wires,” said Robert Sargsian, founder and chief executive of Due.
Before founding the startup, Sargsian worked at the crypto department of Revolut where he helped developed the fintech’s blockchain strategy.
In 2023 Due secured a $3.3m (£2.5m) seed round that it has now extended to $7.3m (£5.5m). The extension was led by Speedinvest.
“Cross-border payments remain one of the most stubbornly broken pieces of global finance – and stablecoins are here to fix it,” said Speedinvest partner Olga Shikhantsova.
“Due is solving this not with another app, but with infrastructure: a single, compliant API that simplifies transactions across both fiat and stablecoin rails.
“We backed the team early on and are excited to now lead this round as they scale the platform into a true global standard.”
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