Fintech iBanFirst and equity and investment platform SeedBlink have partnered for a bespoke solution for fundraising startups and their investors that is meant to ensure faster onboarding and access to preferential FX rates.
Traditional banking solutions often fail to meet the efficiency and customization needs of investment platforms, resulting in slower transactions, higher costs, and cumbersome administrative processes, the company explains. This partnership addresses these challenges by introducing dedicated collection accounts for each funding round on iBanFirst’s platform. This service is tailored to accommodate SeedBlink’s needs, collecting multi-currency investments from around 50 European investors per project. Onboarding each account now takes a few hours, down from 10 days with traditional providers.
For investors, this partnership translates into improved financial terms for their currency exchanges and international payments. Investors can commit funds primarily in euros, but if a fundraising startup is based in Switzerland, the investments will be converted to the appropriate currency before being transferred to the startup. Additionally, investors can request to transfer their investments in multiple currencies.
“Collaborating with SeedBlink to introduce dedicated collection accounts represents a significant milestone in enhancing financial accessibility and transaction efficiency for scaling startups,” Alin Latu, country manager Romania and Hungary at iBanFirst, said.
“Our partnership with iBanFirst underscores our commitment to providing top-tier financial solutions and democratizing a wide range of opportunities for both startups and investors,” Carmen Sebe, CEO of SeedBlink, said.
(Photo: Denisismagilov/ Dreamstime)
simona@romania-insider.com
