Lithuania’s FreeBnk Raises $3m to Expand Crypto Services

FreeBnk, a Lithuania-based fintech company specializing in services for crypto investors, has announced raising $3 million through a combination of equity and token funding.

The investment round saw participation from Founderheads, ChaiTech Ventures, LVT Capital, and Lavender Capital.

The company said it will use the fresh funds towards research and development efforts to enhance FreeBnk’s app and expand its offerings.

Under the leadership of CEO Yunus Emre Ozkaya and Chief Design Officer Arash Lowni, FreeBnk operates as a neobank with a focus on providing a wide range of services tailored to crypto investors.

The platform offers investment opportunities in fractional property ownership, stocks, bonds, and gold.

It also facilitates gas fee-less crypto transactions globally, provides lending services, and ensures secure custody solutions backed by MPC technology and $30 million in insurance coverage.

FreeBnk’s product portfolio is designed to cater to both crypto enthusiasts and traditional investors.

One of the key services, FreeBnk RealWorld, allows users to invest in tokenized real-world assets (RWAs), such as fractional property ownership, stocks, bonds, gold, and other physical assets, through a user-friendly interface.

FreeBnk Crypto enables users to engage in gas fee-less cross-chain crypto transfers and access trading services in 150 countries, with various on/off-ramp options including card and bank transfers.

Additionally, FreeBnk Transfer utilizes blockchain technology to offer a more cost-effective and faster overseas fiat money transfer service.

FreeBnk Pay provides merchants and consumers with an alternative to traditional card and cash payments through low transaction fees. The FreeBnk Lending service allows users to access competitive mortgage, lending, and savings rates.

Meanwhile, FreeBnk Safe ensures hassle-free access to digital assets through advanced inheritance plans and crypto portfolio insurance.

CEO Yunus Emre Ozkaya emphasized FreeBnk’s pioneering role in the RWA industry, stating:

We see ourselves as the pioneers in the RWA industry, as we built a product where real people can interact with physical assets, not just institutions. As the real estate market expands, we see substantial value in investors expanding their portfolios to include RWAs, benefiting from its inherent stability while enhancing their investment prospects.

The funding round was notably supported by several prominent investors. Founderheads, a Vilnius-based boutique web3 venture capital firm, ChaiTech Ventures, a blockchain-focused funding database, Australian VC firm LVT Capital, and Lavender Capital, a growth-oriented Web3 and blockchain venture capital investment company, all contributed to the round.

FreeBnk intends to utilize the $3 million funding to continually update its interface and app experience, particularly for crypto newcomers. This includes the implementation of round-the-clock in-app customer service, providing users with direct access to human representatives for quick and transparent solutions.

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