$20M Seed Funding for Fin.com to Expand Stablecoin Payments Infrastructure
Fin.com has secured $20 million in seed funding to expand its stablecoin payments infrastructure. The New York-based startup, founded by Nabeel Alamgir and Mustafa Dar, targets South Asia, Africa, and the Middle East with its platform. Fin.com's service supports over 40 currencies and payouts across more than 30 countries.
The company's focus is on bridging the 'last mile delivery problem' in cross-border payments by converting stablecoins into local bank accounts and digital wallets. Fin.com claims that most transfers can settle in under 60 minutes, compared to the two-to-five-business-day window for conventional banking.
Expa and Uber cofounder Garrett Camp led the financing round, joined by Coinbase Ventures, Tenet Fund, Figure founders, and other investors. Fin.com plans to use the seed capital to continue building its cross-border network and payment infrastructure across the selected markets.