Mercuryo, a startup that has built a cross-border payments network, has raised USD 7.5 million in a Series A round of funding.
The London-based company aims to make blockchain useful for businesses via its digital asset payment gateway. The startup aggregates various payment solutions and provides fiat and crypto payments and payouts for businesses.
Moreover, Mercuryo aims to use cryptocurrencies as a tool for cross-border transfers. While there is no shortage of companies enabling cross-border payments, the startup’s emphasis on crypto is a differentiator, according to Tech Crunch.
The company has partnerships with several crypto players including Binance, Bitfinex, Trezor, Trust Wallet, Bithumb, and Bybit and its customer base is approaching 1 million. In 2020, the company said its turnover spiked by 50 times while run-rate turnover crossed USD 2.5 billion in April 2021.
To build on that momentum, Mercuryo has begun expanding to new markets, including the US. It also plans to launch a cryptocurrency debit card (spending globally directly from the crypto balance in the wallet) and continuing to expand to new markets, such as Latin America and Asia-Pacific.