Holiday Edition: New investment; Pretiosum Wrapped 2023; Happy holidays from the Pretiosum team🎄;
Pretiosum Ventures is a venture capital firm investing in companies that will shape the Future of Businesses. Talk to us if you are building something new at hello@pretiosum.vc.
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ANNOUNCING NEW INVESTMENT 🎉
Why We Invested in Fiat Republic 🚀
Huge congratulations to the team and co-founders Adam Bialy, Sophie GUIBAUD & Martyna Lewinska!
The intersection of traditional banking and the nascent Web3 space presents a unique, constantly evolving challenge.
While decentralization is important for the success of the new digital currency world, we still believe that traditional banking rails are necessary to onboard more companies in Web3:
- Most of the users are accustomed to the TradFi Banking user experience, so if they are to go into DeFi, they will need to exchange their dollars at the bank to get digital tokens.
- Web3 institutions lack compliance, governance, and AML policies that prevent general adoption and trust from users/institutions.
Our responsibility is to integrate traditional banking services with the Web3 sector. While large enterprises adopt blockchain technology and cryptocurrency, smaller players in the Web3 space also need compliant banking solutions. These smaller entities often lack resources for extensive compliance departments, making their need for accessible, compliant banking solutions even more urgent.
Enter Fiat Republic, a UK-based Banking-as-a-Service provider specifically catering to the needs of Web3 companies. We first met Fiat Republic's CEO, Adam Bialy, after an introduction from our partner network. At the first meeting, we were impressed by Adam's energy and vision. That was when we knew he was the right founder for us. With his extensive experience in the banking and payments industry, including senior roles at OpenPayd and Sainsbury, Adam deeply understands the complexities in this space. His vision, combined with the technical expertise of COO Sophie Guibaud and CTO Martyna Lewinska, has positioned Fiat Republic to tackle these challenges head-on.
Fiat Republic’s platform offers API connections to major banks and tailored compliance solutions for Web3 companies. Their product suite includes virtual IBANs and segregated bank accounts, providing safe and compliant on- and off-ramp services for crypto transactions.
Pretiosum Ventures is excited to partner with Adam and the Fiat Republic team. Our investment is based on the belief that Fiat Republic bridges traditional banking and Web3, democratizing access to compliant banking services for businesses in the Web3 domain.
As we embark on this journey with Fiat Republic, we are excited to witness the transformation they bring to the fintech and Web3 spaces.
We invested in the $7m round alongside Credo Ventures, Seedcamp, Kraken Ventures, Fabric Ventures, Arca, Inovo.vc and Speedinvest.
MERRY CHRISTMAS AND HAPPY HOLIDAYS 🎄
Dear Friends of Pretiosum,
As we gather around the virtual fireplace, sipping on hot cocoa and donning our favourite ugly Christmas sweaters, it's time to reflect on the rollercoaster ride that was 2023 in the world of VC 🎢
Let's face it, the VC market this year was as unpredictable as the weather in London. We navigated through twists and turns, faced unexpected challenges, and even encountered a few Grinch-like moments. The investment chimney seemed a bit narrower, and the sleigh ride to funding success had a few more bumps than usual. 🎅
But fear not, for the tides are turning, and 2024 is peeking over the horizon like a brightly wrapped gift waiting to be unwrapped! 🎁 Despite the hurdles of 2023, we're filled with optimism and holiday cheer for what the new year has in store for the venture capital landscape.
Here's why we're hanging mistletoe on the door of opportunity:
Tech Magic: Santa's elves may be onto something in their North Pole workshops, and the tech wizards in Europe and Silicon Valley are no different. Breakthrough innovations and exciting startups are gearing up to sprinkle a bit of magic dust on the VC scene.
Resilience in Diversity: Just like a beautifully decorated tree adorned with various ornaments, the VC ecosystem thrives on diversity. More inclusive funding strategies are emerging, ensuring that a broader range of startups gets a seat at the holiday feast.
Community Spirit: The spirit of giving is alive and well in the VC community. Investors and entrepreneurs alike are coming together, sharing insights, and building a stronger support network to weather any storm that may come our way.
As we wrap up the year, let's raise a glass of virtual eggnog to the lessons learned, the challenges conquered, and the successes yet to come. May your holiday season be filled with joy, laughter, and the warmth of shared dreams as we eagerly await the arrival of a promising 2024!
Warmest Wishes,
Pretiosum Ventures Team 🌟
WHAT WE HAVE BEEN UP TO 👀
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