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San Francisco, CA - November 11, 2024 - Huma Finance, a leading provider of blockchain-based payment solutions, today announced a successful $38 million Series A funding round. The investment will fuel the expansion of its innovative PayFi platform, designed to streamline global payments and unlock liquidity in trade finance using real-world assets (RWAs).
The Series A round comprises $10 million in equity financing and $28 million in yielding RWAs deployed on the Huma Finance platform. The equity round was led by Distributed Global, with significant participation from prominent blockchain investors including Hashkey Capital, Folius Ventures, ParaFi Capital, Circle, Fenbushi Capital, Stellar Development Foundation, and TIBAS Ventures (investment arm of İşbank, Turkey's largest private bank).
The RWA allocation originates from multi-year trade receivables packaged into tradable products issued by Arf Capital, a Swiss-based platform leveraging Swiss DLT law. Notably, Stellar Development Foundation contributed the largest portion of the RWA funding with a $10 million commitment.
Huma Finance's PayFi platform addresses critical liquidity challenges within trade finance by leveraging blockchain technology to provide instant, accessible, and efficient payment solutions. This innovative approach surpasses traditional methods, offering a faster and more cost-effective way to facilitate global transactions.
"Huma's PayFi network marks a revolutionary shift in payment finance, bringing essential liquidity and interoperability to an industry long plagued by inefficiencies and limited access," said Chao Deng, CEO of Hashkey Capital.
This latest funding round follows Huma Finance's April 2024 merger with Arf, a leading provider of liquidity solutions for global payments. The combined entity operates independently under a shared governance structure, aiming to deliver a comprehensive tokenized asset platform. This strategic partnership is projected to drive $10 billion in PayFi transaction volume within the next year.
The Series A funding brings Huma Finance's total funding to $46.3 million, following an $8.3 million seed round in February 2023 led by Distributed Global and Race Capital. With this latest investment, Huma Finance is well-positioned to transform the global payments landscape and unlock the full potential of blockchain technology for businesses worldwide.
About Huma Finance
Huma Finance is a leading provider of blockchain-based payment solutions. Its PayFi platform leverages real-world assets (RWAs) to provide instant, accessible, and efficient payment solutions for businesses worldwide. Huma Finance is committed to revolutionizing global trade finance and unlocking liquidity for businesses of all sizes.
Compiled by CMO Intern team
Contact:
[media.cmointern@gmail.com]
See more: Top Web3 VC Firms: Funding the Future of Decentralized Web
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