Almond FinTech Secures $7 Million Funding for Global Expansion

Published 7 months ago

Almond FinTech, a company specializing in integrating fiat and digital currencies for businesses, has recently achieved a significant funding milestone by raising $7 million. This financial boost is set to expand Almond’s presence across Asia, the Americas, and Africa. The company aims to make financial services more affordable and widely available to the global population.

Revolutionizing Money Transfers with SOE

Central to Almond’s innovative offerings is their proprietary Settlement Optimization Engine (SOE). This technology is designed to track a multitude of digital currencies and blockchains, finding the most cost-effective and reliable routes for international money transfers. With the SOE, Almond promises near-instant settlements, reduced exposure to foreign exchange risks, and lower requirements for international float.

Leadership’s Vision for Financial Inclusion

Adam Swartzbaugh, the CEO and co-founder of Almond, expressed his gratitude for leading a talented team dedicated to enhancing equitable access to financial services. The company’s mission is to have a significant impact by providing solutions that address long-standing issues in the financial sector.

Innovations in Credit Scoring

Almond’s technological advancements extend to credit scoring as well. By leveraging behavioral analytics, the company has developed a platform that facilitates quick and low-risk lending. This is particularly beneficial to individuals in communities with non-traditional or insufficient credit histories.

Recognition by Industry Experts

Megan Mitchell, associate director at MIT Pathways for Talent, praised Almond’s approach to eliminating barriers in accessing crucial financial services. She highlighted the company’s intelligent solutions to pervasive problems as a marker of true innovation.

Compliance and Technological Infrastructure

Almond has also successfully achieved SOC2 Type 1 Compliance, meeting the AICPA’s service organization control standards. Yunus Sevimli, co-founder and CTO, emphasized the transformative potential of blockchain and digital currencies in the financial industry. Almond utilizes these technologies to facilitate value transfer across borders, bypassing the inefficiencies and costs associated with traditional fund transfer systems.

The recent funding and strategic initiatives position Almond FinTech as an emerging leader in the financial technology space, particularly in the domain of cross-border transactions and financial accessibility.