Tallinn-based Money.Industries, the startup which acts as an intermediary in cross-border services of domestic fintech companies, has secured an investment of $1.5 million led by Caucasus Ventures. With the investment, the startup aims to enhance its infrastructure and accelerate its global expansion.
- Money.Industries, was founded by Kutay Yalınkılınç in September 2023, allows financial technology startups to transfer money abroad without the need to involve banks and without registering on global markets. It enables users in markets such as Central Asia, Eastern Europe, Turkey, Africa, and the Middle East to make corporate or individual payments to their bank accounts, cards, physical payment points and wallets.
“Our first goal is to be able to serve 76.4% of the global population with a rapid expansion. The cross-border payments market is expected to reach a size of more than 360 trillion dollars by 2032. It will enter a new turn in global trade and the financial sector will be surrounded by startups that believe in innovation.”
Kutay Yalınkılınç, the founder of Money.Industries, commented.
- Caucasus Ventures, Baku-based VC fund, that invests in tech entrepreneurs from Caucasus, Central Asia and Eastern Europe, led the current rund. Alongside investors Hasan Jabbarov and Sabrican Zaim also participated.
- The fresh investment Money.Industries will use to enhance its infrastructure, focusing on accelerating the global expansion of local fintech firms. The company intends to create opportunities for smaller entities to collaborate with larger players and reshape the landscape of cross-border transactions.
