Danish fintech ZTLment has raised €2.4 million in pre-seed funding to improve traditional banking infrastructure. The investment was backed by PreSeed Ventures, Upfin, Giant Ventures, and angel investors.
- Founded in 2020 by Mads Stolberg-Mathieu, Harry Kearney, and Jason Spasovski, ZTLment is a payment institution with a European license for programmable and peer-to-peer payments. It simplifies ordering, booking, and digital platforms, offering affordable, programmable, and peer-to-peer payments in fiat currency, allowing flexibility in wallet setup.
- ZTLment is trusted by several financial institutions, including Vibrant, Enable Banking, Heywaitr, Ifthenpay, Trust Payments, DeGrazie, Wede, and nBanks. Furthermore, the startup has garnered widespread recognition from global institutions such as Citi, HSBC, JP Morgan, and the Bank for International Settlements (BIS).
- The startup plans to launch Compliant Wallet Infrastructure, a product regulated by Payment Service Directive 2, allowing customers to allocate multicurrency wallets, facilitate split payouts, and release funds from custody.
- The funding round was led by PreSeed Ventures, a Lyngby-based venture capital firm that invests in Danish startups. Copenhagen-based VC Upfin, which funds early-stage fintech startups, Giant Ventures, a venture capital firm operating in London, New York, California, Copenhagen, and Stockholm, and angel investors joined the round.
- The fresh capital will assist ZTLment in developing and streamlining programmable, peer-to-peer payments while enhancing traditional banking infrastructure.
