SettleMint Raises €16M in Series A Round
SettleMint’s high performance low-code platform for building blockchain applications has seen accelerated adoption in Europe, MEA, India and Singapore in both public and private sectors. This investment will be used to solidify SettleMint’s unique position in current markets, fuel international expansion and power the expansion of SettleMint’s partner program.
SettleMint, the blockchain application development platform for private and public sector, today announced it has raised 16 million in Series A funding. The oversubscribed, up round was led by Molten Ventures, a leading venture capital firm whose investments include UiPath, Thought Machine, Ledger Shape Shift and Revolut.
Molten Ventures is joined in the round by new investors in SettleMint including co-lead investor OTB Ventures, as well as Fujitsu Ventures, Allusion and Bloccelerate and existing investor Medici Ventures, L.P.
SettleMint has established itself as the category defining platform for blockchain application development for enterprise and is trusted by leading banks, financial services providers, global retailers, manufacturers and by innovators in the public sector.
Built from the ground up to simplify the development and implementation of complex blockchain applications, SettleMint has been recognized by Gartner as a ‘Cool Vendor’ and featured in the Gartner Blockchain Hypecycle for the past two consecutive years. SettleMint has also been recognized as a ‘Low-Code Trailblazer’ by Everest Group and selected by the World Economic Forum as a “Global Innovator” in the blockchain space.
SettleMint intends to use the investment proceeds primarily to solidify the company’s position in Europe (Belgium), MEA (Dubai), India (Delhi) and Singapore and fuel expansion into the Japanese market. Globally, SettleMint intends to add 60 new team members. SettleMint will also use the funds to keep its market leading platform two steps ahead to continue meeting the complex requirements of its clients by strengthening further its high performance low-code offering.
Matthew Van Niekerk, SettleMint Co-Founder and CEO said: “When we launched SettleMint in 2016, we saw the benefits that companies would gain from integrating blockchain applications into their existing systems but also knew that there was no easy way for developers to achieve this. Let’s face it, blockchain application development is hard. As practitioners, we also recognized the repeated and predictable challenges that every blockchain implementation faces and that enterprise grade implementations have very high security, scalability and interoperability requirements.
SettleMint meets these standards and provides tools for the challenges that take away complexity to make blockchain application development easy, enabling companies to get ahead of the curve and quickly capture the benefits. Our latest financing round will enable us to accelerate growth and further support companies in capturing the benefits that blockchain offers for them and for their customers.
SettleMint is a high performance low-code developer platform that abstracts away complexity to enable non-blockchain developers to build value creating applications rapidly and easily on web3 infrastructure. As the world moves beyond the hype, SettleMint enables developers to think big, start small and scale fast moving from use case concept to production in weeks rather than months or years.
Roderik van der Veer, Co-Founder & CTO, SettleMint said: “As with any innovative technology, bringing these radically new and rapidly changing technologies into enterprise environments poses a massive challenge for technical departments. SettleMint’s platform merges these worlds into a first-class platform, running everywhere, anytime, with a top-of-the-line developer experience. This funding round allows us to push the boundaries further and strengthen our customer success operations.”
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