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Kima Raises $5M for Distributed Settlement System

Kima

Through stock and token investsment rounds, the payment company Kima raised pre-seed money totaling $5 million, therefore augmenting the firm’s overall capital to $8 million.

Leading the equity round were Blockchange, FinSec Innovation Lab, a research and development accelerator out of the payment behemoth Mastercard, and a few angel investors. According to a release, more assistance from the token fundraising came from Outlier Ventures, Blockchange, Big Brain Holdings, Castrum Capital, Kangaroo Capital, and Maven Capital.

Kima develops a Web3 distributed settlement system linking credit cards and fiat bank accounts with distributed finance (DeFi) capabilities.

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Along with expanding its research and development, finance arm, and regulatory processes, the company intends to utilize the money to onboard more institutions, payment systems, and cross-chain distributed apps.

“These funding rounds support our continuous efforts to bridge the gaps between traditional systems and the blockchain space on-chain, enabling what was once considered impossible,” said Kima co-founder and CEO Eitan Katz in a statement. “They will help us to improve and enlarge our ecosystem, bringing in for the first time actual inter-ecosystem interoperability.”

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