Damisa Secures £2.25 Million to Transform Payments
In an era where seamless financial transactions are paramount, Damisa is poised to disrupt the payments landscape. Co-founded by visionary fintech leader Jordan Lawrence, Blockchain expert Maximilian Marenbach, and Payments Innovator Panos Dandolas, Damisa recently celebrated the successful closure of a remarkable £2.25 million pre-seed funding round. This oversubscribed round, spearheaded by Fuel Ventures, attracted prominent investors such as EWOR, Greyhound Capital, and Mark Ransford, alongside a strategic partnership with Damisa's first customer, a major company pioneering the shift from traditional escrow services to secure wallet solutions.
Damisa is on a mission to transform cross-border transactions by addressing persistent inefficiencies that often plague international payments, including convoluted processes, exorbitant costs, and extended settlement times.
With its innovative payment solution, Damisa is set to revolutionize escrow services and optimize the movement of money across borders, particularly in critical sectors like logistics, real estate, travel, and education. The platform is scheduled for its inaugural transactions this month, with plans for a full market launch arriving in July.
With £2.25 million in funding, Damisa plans to accelerate its growth trajectory and enhance its operational capabilities in preparation for its anticipated launch. This investment will allow the company to secure essential licensing, scale its infrastructure, and further develop its technological assets. As a testament to investor confidence, CEO Jordan Lawrence notes, “This funding underscores our vision to revolutionize global payment processes for industries burdened by outdated and costly solutions. By leveraging smart wallets and stablecoins, we will simplify escrow services and cross-border payments, ultimately providing greater transparency and efficiency for businesses in emerging markets.” Damisa is indeed positioned to reshape the future of global finance, marking a new chapter for startups and investors alike in the fintech ecosystem.
Key Terms Explained
- Pre-seed funding round
- This is the first official equity funding stage. It usually represents the first official money that a business venture or enterprise raises; some companies never extend beyond seed funding into Series A rounds.
- Cross-border transactions
- These refer to any business activity involving movement of goods, service, and funds between two countries. They often involve complex processes due to different domestic regulations, currency, among others.
- Escrow services
- An escrow is a legal concept in which a financial instrument or an asset is held by a third party on behalf of two other parties that are in the process of completing a transaction. The funds or assets are held by the escrow service until it receives the appropriate instructions or until predetermined contractual obligations have been fulfilled.
Frequently Asked Questions
- What is Damisa and who are its founders?-Damisa is a fintech startup poised to disrupt the payments landscape by transforming cross-border transactions. It is co-founded by fintech leader Jordan Lawrence, Blockchain expert Maximilian Marenbach, and Payments Innovator Panos Dandolas.
- What amount did Damisa raise in the pre-seed funding round?+
- Which investors participated in Damisa's funding round?+
- What is the primary mission of Damisa?+
- What will Damisa do with the £2.25 million investment?+
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