Digital Banking: Ibanera Secures $18M at Discounted Valuation

Ibanera‘s shareholders on recently finalized an $18.5 million funding round.

The shareholders in Ibanera, a digital banking and payments company with a focus on embedded payments for Web3 platforms closed an $18.5 million investment round “for themselves to enable them to keep supporting Ibanera’s business line BitLineTM.”

Emerchantpay Limited is “a European based payments company licensed by the Financial Conduct Authority in the United Kingdom, as the first outside investor, has reached an agreement for an $18.5 million capital investment in Ibanera at discounted valuation of $195 million.”

In the fourth quarter of 2022, Ibanera launched “its new digital banking and payments platform powering its payment APIs for scalable banking with ACH, wire, P2C, and RTP for account funding, payment distributions and collections.”

Ibanera’s payments architecture “represents next-gen Distributed Ledger Technology based banking that removes the complications of supporting Web3 businesses, including Ibanera’s own Bitline (”

Ibanera’s DLT and subledger banking “uses blockchain technologies to automate fiat ramping for web3 while removing the inherent risks financial institutions are typically exposed to when servicing digital asset businesses.”

Michael Carbonara, CEO of Ibanera, said:

“In light of the changing banking guidelines and changes in the digital asset markets, we’re excited that Ibanera is positioned to lead the way to support businesses engaging in digital assets safely. The agreement reached with emerchantpay will help propel Ibanera’s growth to be an industry leader.”

Jonas Reynisson, founder and CEO of emerchantpay, said:

“With the quickly changing market of digital assets, we’re thrilled to support Ibanera’s platform to be a leader in payments for digital assets and NFTs. Crypto currencies are no longer for speculation by risky traders, but instead represent the transition of Web2 to Web3 environments that requires easy adoption for everyday consumers.”

As noted in the update, Ibanera is “a global digital banking platform. We develop tailored fintech solutions for banks, corporations and entrepreneurs worldwide.”

Ibanera specializes “in banking, cross-border payments, currency conversion, mobile banking, and merchant services. Ibanera has leveraged strategic partnerships with FInclusive to expand Know Your Customer (KYC) and Anti-Money Laundering (AML) compliance programs.”

Regulated in the United States, Canada, Europe and Singapore, Ibanera “positions itself as a competitive fintech leader with a credible global footprint.”

As mentioned in the announcment, emerchantpay claims it is “a leading global payment service provider for online, mobile, in-store and over the phone payments.”

Its global payments solution is “available through a simple integration, offering a wealth of features, including global acquiring, alternative payment methods, advanced fraud management and performance optimization.”

It works “with businesses of all sizes across various industries to create bespoke solutions and strategies that help them increase their payment systems’ efficiency and profitability.”

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