Lithuanian fintech Monerchy raised €600K from London-based fund Futurecraft Ventures

Lithuanian fintech Monerchy has raised €600K with a €10M valuation from London-based fund Futurecraft Ventures. This round occurred in February 2023, and it was part of an ongoing seed round. The company plans to close in total €2M in a seed round of investments and, it holds negotiations with several funds. 

Monerchy is a paytech company and data analytics software company, which provides a p2p (person-to-person) open-banking payment solution for businesses. With the help of Monerchy’s application, businesses can obtain payments from customers via QR codes or direct bank transfers. The customer and merchant can receive payments to their account that accepts SEPA (single euro payments area) c2b payments. Companies can also obtain valuable data on their customers, allowing them to provide more personalized services.

Monerchy aims to use funds for scaling up sales activities, further development of one-click payment solutions for alternative (non-card) payments, and also start to enter new markets.

The company was founded by Anton Axentiuc in Vilnius in 2021.

Futurecraft Ventures invests in crypto, fintech, and AR/VR solutions. The company operates in Europe, MENA, and the US.