Cybrid Technology Inc., a Toronto, Canada-based crypto banking-as-a-service provider, announced that it secured $3.1 million in seed financing to support the expansion of its developer-focused crypto platform for fintechs and challenger banks. 

The investment was led by Golden Ventures, with participation from Luge Capital and Harvest Venture Partners.

Cybrid will use the new funds to grow the team and continue the development of its B2B developer-focused cryptocurrency infrastructure.

Company: Cybrid Technology Inc.

Raised: $3.1M

Round: Seed Round

Funding Month: April 2022

Lead Investors: Golden Ventures

Additional Investors: Luge Capital and Harvest Venture Partners

Company Website: https://www.cybrid.xyz/

Software Category: Crypto Banking-as-a-Service

About the Company: Founded in 2021, Cybrid is the creation of CEO Avinash Chidambaram and CTO Brent Carrara, Cybrid is a B2B crypto infrastructure platform that empowers neobanks, financial institutions, and payment providers to easily integrate cryptocurrency and DeFi capabilities into their products. Cybrid is a Crypto Banking-as-a-Service provider that enables our partners to seamlessly launch cryptocurrency and DeFi products. Cybrid gives Neobanks, FinTechs, and payment providers the best developer tooling to accelerate their crypto journey from web2 to web3. Cybrid claims to take on the often-difficult infrastructure and compliance concerns that come with building crypto and DeFi products. Cybrid's mission is to help businesses accelerate the world’s transition to the DeFi economy. Headquartered in Toronto, Canada.

Source: https://medium.com/cybrid/cybrid-raises-usd-3-1-million-to-embed-crypto-and-defi-experiences-within-fintech-platforms-77a2eb08f974