Belgium-headquartered SettleMint, a blockchain application development platform for the private and public sectors, has just raised €16 million in Series A funding. The oversubscribed investment round was led by Molten Ventures, a VC firm whose investments include Altruistiq, FocalPoint, and CoachHub).
The round was joined by new investors, including co-lead investor OTB Ventures, as well as Fujitsu Ventures, Allusion, and Bloccelerate and existing investor Medici Ventures, L.P.
Eyes to solidify its presence
SettleMint intends to use the investment proceeds primarily to solidify the company’s position in Europe (Belgium), MEA (Dubai), India (Delhi), and Singapore and fuel expansion into the Japanese market. Globally, SettleMint intends to add 60 new team members. SettleMint will also use the funds to keep its platform ahead to continue meeting the complex requirements of its clients by strengthening further its high-performance low-code offering.
Matthew Van Niekerk, Founder & CEO, SettleMint said: “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.”
Roderik van der Veer, Founder & CTO at SettleMint said: “As with any innovative technology, bringing these radically new and rapidly changing technologies into enterprise environments poses a massive challenge for technical departments. SettleMint’s platform merges these worlds into a first-class platform, running everywhere, anytime, with a top-of-the-line developer experience. This funding round allows us to push the boundaries further and strengthen our customer success operations.”
Vinoth Jayakumar, partner at Molten said: “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 SettleMint in building the leading web3 development platform for decentralised applications.”
Marcin Hejka, general partner & co-founder at OTB Ventures shared, “SettleMint combines unprecedented technical expertise together with 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!”
Simplifies building blockchain apps
SettleMint was founded by Matthew Van Niekerk and Roderick van der Veer in 2016 in Louvain, Belgium to build a platform for any enterprise to build blockchain apps (decentralised apps or dApps) with their existing developer teams. The Blockchain-Platform-as-a-Service company takes away the complexity of the blockchain technology, making it easy to turn a business concept into a working Blockchain application in no time.
SettleMint’s mission is to make it possible for any enterprise to innovate with blockchain incredibly fast – whether they are looking to improve efficiency, bring new customer experiences, or completely reinvent existing business models. The platform includes a suite of ready-to-use tools, frameworks, templates, and APIs so enterprises can focus on the business use case of dApp development with no prior blockchain expertise required.
