IN1, a global fintech startup developing a financial management product, has announced the successful closing of its Seed funding round, raising $6 million from private investors. IN1 was founded by Ukrainians, who hold most of the startup’s management positions.
What is this project about?
According to a press release, IN1 is creating a “revolutionary platform” that integrates with various financial service providers. The platform will allow users to manage all their cards and accounts in one mobile app. The platform also provides accounts for various fiat (traditional) currencies, crypto wallets, and what is claimed to be the world’s first card for payments in both fiat and cryptocurrencies, allowing users to quickly switch between them.
IN1 also offers its comprehensive platform to other fintech companies and traditional banks worldwide to help them seamlessly integrate fiat and cryptocurrencies.
The company has already obtained a VASP license for trading and custody of crypto assets, met regulatory requirements, and implemented advanced security measures to protect users’ funds.
Where will the money go
The raised capital will finance the final stages of product development, which is currently in beta testing, and support the upcoming launch of the full MVP version for Ukrainians and other Europeans. After that, IN1 plans to rapidly expand into the MENA (Middle East and North Africa) and Asian markets.
