HomeDenmark-StartupsCopenhagen-based ZTLment secures €2.4 million to replace outdated banking infrastructures

Copenhagen-based ZTLment secures €2.4 million to replace outdated banking infrastructures

Copenhagen-based fintech ZTLment announced it has raised €2.4 million in total pre-seed funding from investors PreSeed Ventures, Upfin, Giant Ventures, and strong business angels. With the fresh capital, ZTLment aims to eliminate the need for outdated banking infrastructures once and for all and make it easy to make programmable and peer-to-peer payments.

The Danish fintech has made waves as the first in Europe to pioneer compliant wallet infrastructure on decentralized rails for ordering- and booking platforms. Led by the three co-founders, Mads Stolberg-Mathieu, Harry Kearney, and Jason Spasovski, the company is the first in Europe to figure out how to do fiat money transfers on decentralized rails in end-to-end compliance with Europe’s open banking law.

Founded in 2020, ZTLment’s innovative approach addresses the longstanding challenges faced by ordering and booking platforms, including automating fund flows, enhancing payment transparency, and maintaining regulatory adherence. It also addresses a broader shift in the market between finance- and product teams.

“We are seeing a transition, where payment operations become so important for the platform user experience that it is carved out of the finance function and handed over to the product team,” explained Mads Stolberg-Mathieu, CEO, and co-founder of ZTLment.

Commercially, the company makes this transition easy without its customers having to recruit expensive payment operations specialists that can easily cost €70k or more per year.

The company does this by offering Compliant Wallet Infrastructure. Each platform customer is empowered with an unlimited number of wallets to streamline payments efficiently and transparently without the burden of navigating – or having to worry about – technical or regulatory complexities. With an upcoming product launch, customers can allocate a multicurrency wallet for every platform vendor, facilitate split payouts, and release funds in escrow based on data events – all without worrying about the underlying rails.

“People outside of crypto do not care what ledgers you use, as long as it is fiat money and regulatory compliant. They do care about the functionality though,” said Stolberg-Mathieu.

The potential of programmable payments, like ZTLment is bringing to market, has been widely recognized by global institutions like Citi, HSBC, JP Morgan, and even the Bank of International Settlements, which is often regarded as the central bank for central banks.

The ability to lock and unlock money between multiple parties based on data events will help create trust, transparency, and workflow efficiency in cross-border transactions. It also provides a foundation for letting AI agents decide when to release funds while setting limits on the amounts,” stated Richard Breiter, partner and co-founder of the PSVTech01 fund at PreSeed Ventures.

Stefano De Marzo
Stefano De Marzo
Stefano De Marzo is the Head of News at EU-Startups. He has been extensively covering startups, venture capital and innovation ecosystems, including contributions to numerous publications such as Sifted, Entrepreneur and Forbes. Through his work as an editor and writer, he continues to shape the narrative surrounding the best stories of the tech world.

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