Copenhagen-based Januar, a payments gateway for cryptocurrency companies, announced on Thursday that it has secured €1.5 million in funding in a Seed Extension round from CMT Digital, Third Prime and Skyfall Ventures, with Chainalytic co-founder and CEO Michael Grønager . With follow-up from current investors.
“I am very excited to share our latest fundraising news, which will accelerate our international expansion and increase profitability, further establishing Januar as a key player in the cryptocurrency space. This is an important step in our journey, and we’re excited to use these resources to deliver an even better experience for our users. At Januar, we are committed to providing reliable and seamless fiat-to-crypto conversions, and our new cryptocurrency service is a testament to that commitment.” says Simon Ousager, co-CEO and founder of Januar.
In addition to the funding, the Danish company announced the launch of Januar Crypto, an institutional wallet and cryptocurrency trading solution integrated with fiat accounts and payment solutions.
According to the company, the combination of Januar Wallet and Januar Trade will allow businesses to easily convert fiat to cryptocurrency right on the platform.
With this move, the company will simplify its operations by eliminating time-consuming and costly transaction processes that currently cause difficulties for businesses and customers.
After securing €6 million in a Seed funding round, the company has obtained a full payment institution license from the Danish FSA, fully authorizing it to allow services across all 30 EEA markets.
January: Financial Infrastructure for Cryptocurrency Business
Januar provides financial infrastructure for cryptocurrency businesses, offering fiat business accounts and payment solutions integrated with cryptocurrency wallets and trading solutions in a one-stop platform for fiat-to-fiat fund flows.
The Januar Instant Network (JIN), an instant payments payments network, operates 24/7 and performs instant and free transfers between trusted parties on the network.
What should investors say?
CMT Digital is a global blockchain and web3 proprietary trading and venture capital firm focused on early-stage investments that accelerate the adoption of blockchain technology.
“We are very excited to invest in January. The cryptocurrency ecosystem is notoriously underbanked, and Januar fills a critical gap by providing the critical financial services compliant cryptocurrency businesses need to operate. We believe that a key barrier to success in this space is a high level of compliance and regulatory focus, and we believe Januar places a strong emphasis on these. Additionally, Januar’s innovative one-stop platform is an important step in redefining banking and payments in the cryptocurrency space by integrating fiat and cryptocurrency operations.” Sam Hallene, investor at CMT Digital, says:
Third Prime is a venture company that leads early rounds and supports the exit of excellent entrepreneurs.
“Cryptocurrency companies have minimal formal banking services, making it difficult for them to conduct day-to-day financial transactions. Januar fills gaps in the industry and continues to professionalize the ecosystem through a compliance and regulation-first approach. Third Prime is pleased to support Januar and looks forward to partnering with the team to provide much-needed financial services for cryptocurrencies,” said Christian Kaczmarczyk, Principal at Third Prime.
Skyfall Ventures is an early stage investment firm that invests exclusively in Nordic early stage companies built around strong software components.
“We believe Januar is uniquely positioned as a cryptocurrency-friendly financial partner and is ready to become the KYC/AML assessment expert for cryptocurrency companies and enable this large and growing industry to operate freely through industry-specific product offerings. I believe there is. “, says Espen Malmo, co-founder and managing director of Skyfall Ventures.