Fung Payments to raise $2.7 million pre-seed in a round co-led by Global Founders Capital (GFC), Kingsway Capital, Kindred Capital, and Karatage.

Fung Payments, an Amsterdam,The Netherlands-based startup developing a payments platform unifying crypto and fiat rails, completed a pre-seed funding round closed at $2.7 million.

The money was raised from investors co-led by Global Founders Capital (GFC), Kingsway Capital, Kindred Capital, and Karatage.

Fung, founded in 2021 by CEO Alex Schoonkind, Andrei Valeanu and Konstantin Indjov, developer a payments platform unifying crypto and fiat payment rails, used to allow for access to digital assets and payment services, while also offering an immediate solution to compliance issues in digital assets and payment services. The platform will enable merchants to take crypto and fiat payment rails in a compliant manner, where they can meet their own mandatory KYC/AML obligations. The company says it has in the works regulatory procedures, as it aims to become fully regulated by the Dutch Central Bank (DNB) for both fiat and crypto, setting up to be MiCA (Markets in Crypto Assets Regulation) ready.