Due, a payment startup founded by Revolut alumni, has extended its Seed round to €6.3 million to launch a new API platform encompassing stablecoin payments.
Founded in 2022, Due provides growing businesses with a multi-currency account to send and receive funds directly between local and foreign fiat currencies, as well as stablecoins.
The company is now expanding its business with the launch of an embeddable API for fintechs looking to offer cross-border payments and crypto wallets.
In both instances, the company offers real-time FX and settlement in 80+ markets with a single API integration that combines local payment rails, liquidity markets, and blockchain networks into a single infrastructure.
Due currently provides services to more than 500 businesses.
The new funding round was led by Speedinvest and follows on from an original €2.3 million raise in 2023.
Robert Sargsian, founder & CEO of Due, says: “Moving money internationally still feels like sending a fax in the age of streaming. With Due, a single API line makes the world one currency zone, delivering real-time settlement at fair FX that’s five to ten times cheaper than legacy wires.”
Before founding the startup, Sargsian worked at the crypto department of Revolut where he helped developed the fintech’s blockchain strategy.
He says Due aims to increase its coverage to over 100 countries in terms of payments rails and currencies by the end of the year.
The firm also plans to add more payments products, including invoices, cards and yield accounts, and hire engineering and compliance staff to support growth.