By actively considering the ethical implications of AI, Sangarsu is working towards creating a future where AI benefits society
kt network1 day ago
London-based Venture Capital fund Futurecraft Ventures has announced its latest investment this week. The VC firm has invested in the latest seed round of Monerchy UAB, a European paytech and data analytics software company based in Lithuania. The startup is aiming to raise a total investment of $2 million in this ongoing seed round.
Monarchy provides a p2p open-banking payment solution for businesses, facilitating a one-click payment alternative for customers. Using its mobile app, businesses can obtain payments from customers via QR codes or direct bank transfers. This provides an easy and real-time alternative to card payments. By leveraging the solution, merchants can also obtain valuable data on their customers, allowing them to provide more personalised services.
Monerchy becomes the sixth investment in Futurecraft Ventures' growing portfolio. The crypto and fintech-focused VC fund has invested over $70 million in the last 12 months. The portfolio includes crypto management and analytics solution Unspent, and popular fintech startup Exfor.
The company has also recently invested in Trillion, an AR-based fashion-tech solution that allows users to virtually try on jewellery before purchasing. Their most notable investment was in Haqqex and Islamic Coin, an Islamic ethics-based ecosystem and Shariah-compliant cryptocurrency that has secured a total record-shattering investment of $200M during private sale.
Futurecraft Ventures aims to boost the already growing fintech and digital assets market of the Middle East and European region.
Europe makes up 17 per cent of the global cumulative valuation of the fintech industry. According to projections, the startup is set to take a 10 per cent share of the European fintech market. Investing in Monerchy will help the VC firm increase its economic position in this booming industry.
“Monerchy fits perfectly into our portfolio, providing revolutionary financial tools at the right time and in the right place,” says Kashan Rafique, partner at Futurecraft Ventures.
The startup's founder Anton Axentiuc, adds,:“ We are delighted to have found in Futurecraft what we were looking for: smart money that will give us not only financial opportunities, but also the network to expand our business in Europe and in emerging markets.”
Futurecraft’s global footprint and unique industry contacts offer portfolio companies a direct competitive edge — ensuring a faster path out of death valley and exciting exit opportunities for co-investors.
The VC hub plans to expand investment and growth-hacking opportunities in 2023, offering its secret sauce to select partners throughout the world.
By actively considering the ethical implications of AI, Sangarsu is working towards creating a future where AI benefits society
kt network1 day ago
The event also spotlighted prominent Indian leaders in various sectors, showcasing their impact on the UAE and India
kt network1 day ago
The launch took place at Taj Dubai on April 30, with prominent consultants, fit-out companies, contractors, and key channel partners in attendance
kt network1 day ago
The innovative program provides seamless access to proactive healthcare, offering health risk assessments, check-ups, on-call doctors, a dedicated helpline, and educational support programmes
kt network2 days ago
Sabeer's story is a blend of facing challenges head on, introducing ideas and demonstrating unwavering determination — all showcasing the strength of resilience and the relentless pursuit of aspirations
kt network2 days ago
This conference brought together leading orthopedic experts to address the key challenges and advancements in orthopedics and sports medicine
kt network2 days ago
The high-profile event brought together global philanthropic and business leaders to explore the untapped potential of philanthropic capital in accelerating development and humanitarian efforts
kt network3 days ago
The HONOR Magic V2 represents the first of many forthcoming breakthroughs in this exciting new market
kt network3 days ago