Money.Industries Receives Investment Valued At $1.5 Million

(MENAFN- B2Press) In the first nine months of 2023, the fintech sector, attracting over $29 billion in 1,655 investment rounds, has added a new investment to its portfolio. An Estonia-based fintech company facilitating cross-border services for local financial technology firms has received an investment valued at $1.5 million.

TURKEY -
Despite global economic uncertainties, the financial Technology sector has maintained its resilience, particularly regarding the number of deals. According to S&P Global market Intelligence data, the fintech sector attracted $29 billion in investments across 1,655 rounds in the first nine months of 2023. The latest investment news is about the Estonia-based financial technology company Money, which received its first investment at a $1.5 million valuation. The investment round included contributions from Caucasus Ventures, along with Hasan Jabbarov and Sabrican Zaim.

Money offers a payment network that enables financial technology startups to conduct international money transfers without the need for banks or global incorporation. The company connects local payment systems to various parts of the world. Without needing specialized knowledge or developing infrastructure, financial technology companies can use the services provided by Money to facilitate payments to bank accounts, cards, physical payment points, wallets, and both corporate and individual payments in markets like Central Asia, Eastern Europe, Turkey, Africa, and the Middle East.
Kutay Yalınkılıç, Founder and CEO of Money, highlighting that international money transfer has become a routine financial need, said, "Money offer a ready solution to accelerate the globalization journey and market access of financial technology companies. We thank our investors who believe in our value proposition and support us."

With 20 years of experience in the fintech sector, Kutay Yalınkılınç expressed their intention to use the investment primarily to expand the company's reach. "Our initial goal is rapidly expanding to serve 76.4% of the global population. The cross-border payments market is expected to exceed $360 trillion by 2032. As global trade enters a new phase the finance sector transforms with innovation-driven enterprises, Money will become a company that makes international money transfers and global payment services accessible, grows the category, and reveals the real value in cross-border payments," he stated.

Addressing the challenges many fintech startups face in rapidly globalizing in developing markets, Kutay Yalınkılınç, Founder and CEO of Money, concluded his remarks on the investment:

"With the infrastructure provided by Money, we will focus on accelerating the globalization steps of local fintechs. This approach will pave the way for large companies to spread worldwide while creating opportunities for small-scale firms to move alongside the major players. This strategy will transform Money into a global solution that becomes a partner for fintech ventures worldwide. Our first and subsequent investments will shorten our path to this goal."

Contact: Tülay Genç | [email protected] | +31 30 799 6022

MENAFN27122023007075015205ID1107661700