Startup Finturi Raises $ 2.2 Million For Its Blockchain-Based Bill Funding Platform

Dutch blockchain startup Finturi has secured 2 million euros ($ 2.2 million) to enable businesses to get loans against bills through blockchain technology, the company tweeted March 12.

Founded in September 2018, Finturi aims to help businesses finance their bills by connecting them with financiers to borrow money against bills, using blockchain and artificial intelligence (AI), according to a report from the post of March 11.

Finturi reportedly raised its first investment via a fundraising round led by NetSam Participaties BV, which clearly entered an investment round for the first time, according to Crunchbase.

Finturi’s blockchain-based bill financing platform is expected to launch in the third quarter of 2019. According to the report, the Finturi team plans to provide a fully peer-to-peer (P2P) platform in the future. ) which includes corporate customers.

Expressing concerns about many new companies facing difficulties raising capital, Finturi CEO Johannes Brouwer said the company aims to enable companies to get loans on account within 24 hours. According to the CEO of Finturi, the next platform will provide financiers with a “platform to invest in invoices with a minimum of hassle”.

Lead investor at NetSam Participaties BV said blockchain technology combined with AI has huge potential to eliminate inefficiencies in existing financial processes by reducing costs, speeding up processing time and providing better security.

Recently, five Japanese banks entered into a partnership to launch a blockchain-based financial services infrastructure. By targeting a range of financial operations to improve efficiency, banks will leverage IBM’s expertise during the development phase.

Last week, economist and notorious crypto critic Nouriel Roubini argued that blockchain had nothing to do with the future of financial services. Roubini has excluded the term from the list of major technologies he sees as leading to a manufacturing or fintech revolution, including AI, machine learning, big data and the Internet of Things.

Comments are closed.