- Fnality’s Series C raised $136 million, led by WisdomTree, Bank of America, Citi, KBC Group, Temasek, and Tradeweb and existing investors.
- With prior funding and earlier rounds, Fnality has now raised over $280 million since its founding.
- The funds will help expand Fnality’s settlement infrastructure to other major currencies (USD, EUR), and improve liquidity tools.
London-based fintech firm Fnality International Ltd. announced, that it has secured $136 million in Series C funding. The funding round was led by major financial institutions, including WisdomTree, Bank of America, Citi, KBC Group, Temasek, and Tradeweb. Existing investors such as Goldman Sachs, Barclays, Santander, UBS, and others also participated in this round.
Backed by big investors
Before this round, Fnality had raised £77.7 million or about $95 million in its Series B in November 2023, in a round led by Goldman Sachs and BNP Paribas. Prior to that in 2019, they raised ~£55 million in a Series A round. With the new $136 million, its cumulative funding since inception now reaches over $280 million.
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The investment comes at a time when tokenization and digital settlement are being viewed more seriously by traditional financial institutions. Fnality’s model addresses many of the concerns about trust, liquidity, and risk since it is anchored on central bank money, offering atomic settlement. Fnality operates under regulatory oversight, unlike other blockchain or crypto payment initiatives, which makes it controversial.
What Fnality does & why it matters?
Fnality builds infrastructure for wholesale financial markets, from payment and settlement systems using blockchain / distributed ledger technology (DLT), all of which is supported by central bank money. The goal is to enable real-time, atomic settlement of tokenized assets (securities, stablecoins, etc.), delivery-versus-payment (DvP) for digital securities, payment-versus-payment (PvP) for currency / FX, and 24/7 availability of those services.
Its flagship system is the Sterling Fnality Payment System (Sterling FnPS, or £FnPS), launched in December 2023. This was the first regulated DLT-based wholesale payment system, recognized by the UK’s HM Treasury as a systemically important payment system. It allows banks and financial institutions to transact using a digital representation of cash held at a central bank, enabling faster settlement and reducing counterparty and settlement risk.
With the fresh capital from Series C, Fnality intends to expand to other major currencies (Dollar, Euro, etc.), enhance liquidity-management tools, and improve interoperability. By raising this amount and bringing on heavyweight backers, Fnality is signaling confidence in its approach as infrastructure rather than speculative or fringe fintech. Moreover, it is integrating TradFi with DeFi and bringing tokenized markets under more rigorous regulatory and operational frameworks.
