SettleMint, a blockchain application development platform, has announced that it has raised $16M in the Series A investment round. The round was led by Molten Ventures, a venture capital firm that has previously invested in companies such as UiPath, Thought Machine, Ledger Shape Shift, Revolut. Among the investors participating in the round were OTB Ventures, Fujitsu Ventures Medici Ventures.
SettleMint’s high-performance low-code platform for building blockchain applications has been rapidly deployed in both the public and private sectors in Europe, MEA, India, and Singapore. The officials of SettleMint announced that the fund raised will be used to accelerate international expansion and strengthen SettleMint’s position in the market. In addition, SettleMint, which will hire 60 employees from different countries as part of globalization, will start operating in Japan.
Since its launch, SettleMint has established itself as a blockchain application development platform and has been used in the banks, financial service providers, and private/public sectors of the world.
The SettleMint project took part in the Gartner Blockchain Hypecycle for two years in a row, was recognized as a ‘Low-code Trailblazer’ by the Everest Group, and was named a ‘Global Innovator’ at the World Economic Forum.
“The application of blockchain into enterprise opens up massive transformational opportunities. Blockchain technology can offer higher scalability as well as better security and improved efficiency for a growing number of enterprise use cases. At the same time, the implementation of blockchain in an enterprise environment is not easy. SettleMint combines unprecedented technical expertise with a profound understanding of enterprise clients’ needs. SettleMint’s team is perfectly positioned to deliver the long awaited blockchain value to enterprise clients and we’re extremely excited to assist them along this way!” Marcin Hejka, general partner & co-founder at OTB Ventures
“SettleMint is enabling enterprises to drive real business value from decentralized applications built on blockchain technology. While there is massive demand to implement blockchain solutions and applications, there is an equivalent shortcut of blockchain expertise. SettleMint bridges that gap by allowing developers to build web3 products and focus on end-product business use cases, not on underlying complex blockchain infrastructure. We’re extremely excited to back settle in building the leading web3 development platform for decentralized applications.” Vinoth Jayakumar, partner at Molten Ventures
About The Settlement
SettleMint is a high-performance, low-code blockchain application development platform that empowers developers to create, integrate and launch applications on the Web3 infrastructure.
The platform is a full-fledged Blockchain-Platform-as-a-Service solution. SettleMint also provides a complete development, middleware environment and an integration studio, all available online. The platform includes a suite of ready-to-use tools, frameworks, templates, and APIs to accelerate the development of any blockchain use case and provide developers with the optimal user experience.
“When we launched SettleMint in 2016, we saw the benefits that companies would gain from integrating blockchain applications into their existing systems but also knew that there was no easy way for developers to achieve this. Let’s face it, blockchain application development is hard. As practitioners, we also recognized the repeated and predictable challenges that every blockchain implementation faces and that enterprise grade implementations have very high security, scalability and interoperability requirements. SettleMint meets these standards and provides tools for the challenges that take away complexity to make blockchain application development easy, enabling companies to get ahead of the curve and quickly capture the benefits. Our latest financing round will enable us to accelerate growth and further support companies in capturing the benefits that blockchain offers for them and for their customers.” Matthew Van Niekerk, SettleMint Co-Founder and CEO