TORONTO, July 31, 2024 — Layer2 Financial—the regulated payments infrastructure transforming cross-border payments—is thrilled to announce their $10.7 million Series A funding round. This round was led by Galaxy Ventures, with key participation from Accomplice. The new funding will accelerate Layer2’s mission to revolutionize the way money moves around the globe.
The announcement comes in the wake of incredible growth for Layer2. The company’s innovative approach to payment infrastructure utilizes both fiat and digital currencies to securely move billions of dollars annually, and has seen a consistent 20%+ month-over-month increase in transaction processing volumes as more businesses seek efficient, transparent, and compliant ways to issue payments across jurisdictions. Layer2 serves a diverse range of customers including non-bank financial institutions, traditional banks, neobanks, enterprise orgs, and other payments companies.
“This Series A funding is a significant milestone for Layer2, and for cross-border payments,” says Bhanu Kohli, CEO and Founder of Layer2 Financial. “Global payments infrastructure can finally match the speed of business by combining the transparency and immediacy of digital currency with the security of fiat — we’re thrilled to be leading this change.”
Layer2 Financial’s plans for the Series A funding include product development, market expansion, tech infrastructure, and the talent acquisition to ensure all of those aspects are best in class.
“Cross-border B2B payments are fundamentally complex, and Layer2’s approach to solving these challenges is groundbreaking,” adds Mike Giampapa, General Partner at Galaxy Ventures. “The evolution of the payments system, especially leveraging digital assets and stablecoins alongside fiat, presents a unique opportunity that we are very excited to be a part of — Layer2’s platform is uniquely positioned to disrupt the traditional payments ecosystem, making international money movement faster, more transparent, and cost-effective.”
Layer2 Financial is distinguished in the market by its ability to support a wide range of use cases as a single-source provider. The company’s extensive partner network includes financial institutions and payment processors, enabling them to tackle the complexities of global, cross-border payments. This includes international support in multiple currencies, high-capacity transaction processing, configurable virtual account naming conventions, third-party payments, and tokenized payments, conversions, and exchanges.
As Layer2 continues to grow, expect more announcements about new partnerships, customers, and company milestones.
About Layer2 Financial
Layer2 is a global, regulated payments infrastructure that makes cross-border money movement fast, simple, and secure. Our multi-partner platform is designed to provide businesses with compliant payments for multiple currencies. With just one API, you can provide Collections, Pay Outs, FX and more.
For media inquires
Ryan Miller, CRO
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SOURCE Layer2 Financial
