" class="no-js "lang="en-US"> NoFrixion Raises €3.6M to Drive Digital Payments Revolution
Wednesday, December 07, 2022

NoFrixion Raises €3.6M to Drive Digital Payments Revolution for Business

 NoFrixion, the Dublin-headquartered Fintech revolutionising business payments, today announced a €3.6M funding round led by Delta Partners and Middlegame Ventures and joined by Furthr VC. The capital will be used to grow NoFrixion’s engineering and sales teams, transforming how businesses pay and get paid in the digital economy.

The funding comes soon after NoFrixion’s public launch of its MoneyMoov API, bridging legacy and digital infrastructure while simplifying payments automation and reconciliations. With customers in Ireland, UK, Belgium and Portugal, the company is leading the charge towards a fully digital payments landscape, with large systems integrators already signing up as partners.

NoFrixion’s Engineering team is led by Aaron Clauson, co-founder and CTO, and a Bitcoin Core developer: “The technical vision behind NoFrixion is to support merchants with today’s payment networks –  predominantly cards and bank transfer –  while being ready for the networks of the future, which will be based on digital wallets stored on customer’s mobile devices” he says. “NoFrixion’s platform is built to support digital wallets and the Bitcoin Lightning network from day one. NoFrixion has deep expertise in Bitcoin, Bitcoin Lightning and related technologies. For developers the NoFrixion MoneyMoov API can allow them to incorporate multiple payment options covering: cards, open banking (including SEPA and FasterPayments) and Bitcoin Lightning; all in a single API.”

We’re fundamentally changing the simplicity and velocity of moving money for businesses. Getting paid and making payments has become increasingly expensive and complicated. We’re transforming that underlying infrastructure, driving towards instant low cost value transfer – both offline and online,” said Feargal Brady, co-founder and CEO of NoFrixion.  “We’re thrilled to bring together leading Irish and International investors who get this vision, and support our mission to eliminate barriers to the instant economy”.

NoFrixion’s mission is to enable money to move instantly – to make it easy to pay and get paid using a proven process they call Experiential Payments – making the payment process either invisible or an enjoyable event. People want to pay and get their goods and services immediately. You can’t have an instant economy when it takes ten minutes to pay, and a week for the business to receive funds. NoFrixion not only fixes these problems, it can cut the cost of taking those payments by up to 95%. Business can replace their day to day payments operations, with a smart, connected current account and native access to international payments networks, including the Bitcoin Lightning Network.

Internet banking promised much which it never fully delivered, and hasn’t evolved with the instant economy,” says Feargal. “MoneyMoov connects digital payments to ERPs, Accounting Platforms and core business applications, cutting out internet banking, manual processing and similar inefficiencies. It significantly reduces the time and cost overhead of moving money. We’ve assembled a world-class engineering team, with experience across traditional payments, but also with extraordinary bitcoin, security and user interface design expertise. We’re meeting the challenges of the instant economy, and building new digital rails to make commerce quicker, easier and cheaper.”

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