Polish fund OTB Ventures leads SettleMint’s €16M funding round
19 October, 2022, 11:22
The Warsaw-based VC fund OTB Ventures has backed SettleMint, a Belgian blockchain application development platform. Together with a British fund Molten Ventures, OTB invested €16 million, MamStartup reports.
- Established in 2017 by Adam Niewinski, Gregory Jankilevitsch, and Marcin Hejka, OTB Ventures is a leading venture capital firm in Central & Eastern Europe. The fund has over 20 years of partners’ international VC and entrepreneurial track record. They invest in early growth, post product, high-tech startups with unique technologies.
- OTB Ventures typically provides Series A funding to empower and support talented entrepreneurs to scale their businesses globally. Its latest portfolio includes such companies as TurnKey Lender, kevin., ICEYE, and Scalarr.
- This time, the fund invested in SettleMint. It is an Blockchain-Platform-as-a-Service company, incorporated in 2016 by Matthew Van Niekerk, and Roderik van der Veer. Its easy to use platform allows for building, deploying, and integrating web3.
“Blockchain technology opens up a number of opportunities for entrepreneurs. Among other things, it enables easier business scaling, as well as increases its security and efficiency. On the other hand, implementing blockchain in corporations is not easy. Hence the investment in SettleMint, whose team has the skills and resources to carry out such implementations in an effective way,”Marcin Hejka, general partner and co-founder at OTB Ventures, comments.
- The startup is planning to use the funds on expansion in Europe, the Middle East, as well as India, and Japan. Also, SettleMint wants to employ 60 new people in the team, as well as facilitate its product development.