Turkish Fintech Leaders Huma and Arf Secure $38M Investment
#HumaFinance and Arf, two pioneering Turkish fintech startups, have announced a successful $38 million investment round. This funding will support the expansion of their innovative #PayFi network, which aims to revolutionize payment financing by leveraging real-world assets (#RWA). The two companies, which merged in April 2024, are set to transform the financial sector with faster, more accessible, and efficient solutions.
Key Highlights of the Investment
Funding Success: The $38 million investment round was led by #DistributedGlobal, with notable participants including #HashkeyCapital, #FoliusVentures, #StellarDevelopmentFoundation, and Turkiye’s largest private bank, İş Bankası through its corporate venture capital arm, #TIBAS Ventures.
Strategic Investment: Part of the investment was directed towards high-yield RWA assets on the Huma platform, emphasizing its potential to address liquidity gaps in the payment financing sector.
The Vision Behind PayFi
#PayFi is designed to address the massive liquidity gap in the global payments market by utilizing blockchain and stablecoin technologies. By transferring trillions of dollars in daily payment volume onto a decentralized network, PayFi aims to provide a comprehensive solution for payment financing. Here’s how it stands out:
Innovative Technology: Huma, as the first PayFi network, uses blockchain’s programmability and speed to create an open, modular, and decentralized payment finance system.
Strategic Merger: The merger of Huma and Arf brings together two leading players in the PayFi space, enhancing their capabilities and market presence.
@humafinance
