Fence, a Spanish fintech firm, has raised €1.8 million in a pre-seed funding round led by Semantic.vc.
Funding and Expansion
- The funding round was led by VCs Crane Earth and Actyus.
- Fence has attracted €4 million in commitments.
- The funding will be used to invest in development and technology.
- Fence plans to expand its operations and service more banks, private debt funds, and fintechs across Europe.
- The company plans to double its team in Madrid this year.
- Fence is the beneficiary of a financing agreement between BBVA Spark and Payflow.
The agreement provides up to €20 million in financing for Fence.
- Fence, a Spanish startup, aims to automate debt operations with blockchain technology.
- The recent funding round and financing agreement will support the company’s growth and expansion plans.
Blockchain technology was first introduced in 2008 with the publication of the whitepaper on Bitcoin by Satoshi Nakamoto. Bitcoin, the first decentralized cryptocurrency, utilized blockchain technology to create a secure and transparent digital payment system.
Since then, blockchain technology has gained significant attention and has been applied to various industries, including finance. Its ability to provide secure, transparent, and decentralized transactions has attracted the interest of financial institutions and startups alike. This has led to the emergence of fintech companies like Fence that are leveraging blockchain technology to automate debt operations.
The traditional financial industry has been facing challenges in terms of efficiency, security, and transparency. Blockchain technology offers the potential to address these challenges by streamlining processes, reducing costs, and enhancing trust in financial transactions.
Moreover, the cultural context of this post also highlights the global nature of fintech innovation. Fence, as a Spanish startup, is attracting funding from both local and international venture capital firms. This demonstrates the global interest and investment in fintech companies that are utilizing blockchain technology to transform the financial industry.
Overall, the historical and cultural context related to this post showcases the evolution of blockchain technology and its impact on the financial industry, as well as the global nature of fintech innovation.