Blockchain Remittance Company, Align Commerce Raises $12.5 Million in Series A Funding, Led by Kleiner Perkins

Align Commerce has raised $12.5 million in Series A funding led by KPCB, its first blockchain investment. Among other investors in the round were Digital Currency Group, FS Venture Capital, Pantera Capital, Recruit Ventures and SVB Ventures (investment fund of the Silicon Valley Bank). Marwan Forzley, CEO and Founder of Align Commerce, shared with the LTP team how the company plans to use funds: With the funding, we will expand our current network of countries and currencies. The plan is to continue to grow the arsenal of the most important part of the business: our people. In order to expand growth channels and customer acquisition efforts, we realize that we need to hire the best and the brightest in the space. I am a big proponent of efficiency and scale, and that is the path we are on.

Align Commerce is a next-generation global payment provider that enables businesses to quickly and securely send and receive payments in local currency. The company is the first in the industry to create a patent-pending multi-rail payment technology. Align Commerce's multi-rail system provides customers convenience, transparency, real-time payment tracking and an overall seamless experience in cross-border payments.

The LTP team had the pleasure of further speaking with Marwan about the services the company provides, use of block ...

To continue reading, sign up for MEDICI Inner Circle and get free access for 7 days.
100,000+ FinTech professionals trust MEDICI Inner Circle to stay up to date on the latest in financial services.