Almond Finance, a blockchain startup has raised $2 million
Almond Finance raised $2 million, from Morningside Group, in their latest funding round, which will be used to build the Almond platform, a payments platform that enables merchants to accept cryptocurrency payments.
Almond is a blockchain-based funds transfer infrastructure, connecting hundreds of financial institutions globally.
Almond Finance, based in Boston and Singapore, are focusing on the B2B sector. They offer software that enables international money transfers between financial institutions — no matter the currency. The funding will allow us to keep up with development and meet compliance requirements in various markets, said the representative of the company.
Almond is targeting to roll out a money transfer corridor in Q1 2022. For now, Almond says it will focus on Southeast Asia and North America. Almond added that it is in discussion with partners from Thailand and Malaysia to build its network and has already finalized agreements with two of Cambodia’s largest financial institutions.
Almond is also looking to partner with U.S.-based banks, neobanks, and credit unions on international money transfers. Mick Sawka, Investment Manager at Morningside Group, said that Almond Finance was an impressive company who accomplished something accomplished something few have in disrupting this space so quickly.