The shareholders in Ibanera, a digital banking and payments company with a focus on embedded payments for Web3 platforms on Friday (March 10) finalised an $18.5 million funding round for themselves to enable them to keep supporting Ibanera’s business line BitLine.
Emerchantpay Limited is a European based payments company licensed by the Financial Conduct Authority in the United Kingdom, as the first outside investor, has reached an agreement for an $18.5 million capital investment in Ibanera at discounted valuation of $195 million.
In the fourth quarter of 2022, Ibanera launched its new digital banking and payments platform powering its payment APIs for scalable banking with ACH, wire, P2C, and RTP for account funding, payment distributions and collections. Ibanera’s payments architecture represents next-gen Distributed Ledger Technology based banking that removes the complications of supporting Web3 businesses, including Ibanera’s own Bitline (bitline.io).
“Ibanera’s DLT and subledger banking uses blockchain technologies to automate fiat ramping for web3 while removing the inherent risks financial institutions are typically exposed to when servicing digital asset businesses, said Michael Carbonara, CEO of Ibanera. “In light of the changing banking guidelines and changes in the digital asset markets, we’re excited that Ibanera is positioned to lead the way to support businesses engaging in digital assets safely. The agreement reached with emerchantpay will help propel Ibanera’s growth to be an industry leader”.
“With the quickly changing market of digital assets, we’re thrilled to support Ibanera’s platform to be a leader in payments for digital assets and NFTs,” said Jonas Reynisson, founder and CEO of emerchantpay. “Crypto currencies are no longer for speculation by risky traders, but instead represent the transition of Web2 to Web3 environments that requires easy adoption for everyday consumers”.