Fnality Raises $136 Million(£99.7 million)in Series C Funding

Fnality, a wholesale payments platform for banks and businesses, led by Michelle Neal, Rhomaios Ram, Jan Schoombee, Simone Cortese, and others, has secured $136 million(£99.7 million) in a Series C funding round led by WisdomTree, Bank of America, Citi, KBC Group, Temasek, and Tradeweb. The lead investors were joined by existing investors Banco Santander, Barclays, BNP Paribas, DTCC, Euroclear, Goldman Sachs, ING, Nasdaq Ventures, State Street, and UBS.  

This capital raise marks a major milestone for Fnality’s mission to build a global settlement network powered by distributed ledger technology (DLT), connecting today’s wholesale markets with the growing world of institutional tokenized assets. Following the launch of the Sterling Fnality Payment System in the UK in December 2023, the company is now focused on expanding into other major currencies, advancing liquidity management solutions, and enabling settlement interoperability for innovations such as stablecoins and tokenized deposits.

Fnality is positioned to become a core component of the global settlement layer, working with market infrastructures across the digital assets landscape. Its solutions include real-time settlement of tokenized securities via secure delivery-versus-payment (DvP), on-demand FX payment-versus-payment through the Sterling Fnality Payment System (£FnPS), and real-time repo transactions. These examples show how regulated, DLT-enabled payments are reshaping financial market infrastructures and accelerating the shift toward more integrated, liquid, and resilient capital markets.