Coinflow Labs, a pioneering web3 payments firm, has successfully raised $2.25 million in seed funding. This investment round was led by the esteemed venture firm CMT Digital and saw participation from other prominent investors, including Reciprocal Ventures, Jump Crypto, Draper Dragon, Digital Currency Group, and various angel investors. This funding milestone brings Coinflow's total funding to a substantial $3.7 million, following pre-seed financing in early 2023.

As a result of this seed round, CMT Digital investor Sam Hallene will join Coinflow's board of directors, further bolstering the company's leadership. Coinflow plans to utilize these funds to strengthen its sales, engineering, compliance, and other teams. This strategic investment will enable the company to expand its capabilities and drive innovation in the web3 payments space.

Coinflow Labs is developing a cutting-edge payment system that facilitates instant payment acceptance and settlement with stablecoins. This platform also empowers businesses to transfer funds from stablecoins to a user's bank account in real-time. According to Daniel Lev, co-founder and CEO of Coinflow, "Coinflow is launching a payment platform for marketplace companies, enabling sellers to receive funds instantly. Additionally, any funds on the platform generate extra revenue for the marketplace." Coinflow has already partnered with multiple traditional companies, processing tens of millions annually through payment processors like Stripe. The company plans to extend this service to new businesses after early access in Q3.

Coinflow Labs' partners include Layer 1 network developer Solana Labs and the blockchain-based music platform Audius. This collaboration highlights the company's commitment to innovation and its dedication to shaping the future of web3 payments. With this seed funding, Coinflow Labs is poised to make a significant impact in the industry, revolutionizing the way businesses and individuals.