Lyzi Raises €1.3 Million in Seed Funding for European Expansion
Lyzi, a prominent player in the French cryptocurrency payment landscape, has successfully secured €1.3 million in seed funding. This financial boost was reported by Finbold on April 8, and it marks a significant step forward for the company.
Investors and Strategic Backers
The funding round saw participation from notable investors such as Christopher Grilhault des Fontaines, the Singapore-based NYX Venture, and Jean-Luc Bernard, the visionary behind the global technology consultancy, Astek. Their support underscores the confidence in Lyzi’s vision and potential in the crypto payments sector.
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Lyzi’s Ambitious Expansion Plans
With this infusion of capital, Lyzi is poised to accelerate its ambitious plans for expansion across Europe. The funds will also facilitate the further development of its core platform, which is underpinned by the Tezos (XTZ) blockchain technology.
Damien Patureaux, the CEO and co-founder of Lyzi, emphasized that this funding round represents a pivotal milestone in their mission to bridge the gap between cryptocurrency and traditional commerce. He stated, “By integrating Lyzi, businesses can attract customers eager to pay with cryptocurrencies while tapping into the burgeoning digital asset market through an innovative and secure solution.”
Innovative Crypto-to-Fiat Payment Solutions
Lyzi offers a seamless crypto-to-fiat payment gateway, enabling users to transact in digital currencies while allowing merchants to receive payments in their local currencies. This frictionless approach has already led to the integration of over 350 crypto wallets, connecting them to an impressive 400,000 points of sale. This was made possible through partnerships with leading payment providers like Sylq, Yavin, LyfPay, Paxstore, Sunmi Store, and Nepting.
Rising Trend of Crypto Adoption
As the global number of cryptocurrency users is projected to exceed 1 billion by 2027, Lyzi is strategically positioned to meet the increasing demand for crypto solutions in the realm of digital commerce. The company’s forward-thinking approach includes plans to debut on Etherlink, a Tezos Layer-2 (L2) blockchain that is compatible with the Ethereum (ETH) Virtual Machine (EVM), by the second quarter of 2025.
Future Outlook and Technological Advancements
Cédric Roche, the Head of Business Development at Nomadic Labs, Tezos’ research and development center in Paris, noted the immense potential of rapid settlement and enterprise-grade security in modern payment systems. His remarks highlight the confidence in Lyzi’s strategic roadmap as it continues to innovate and expand its influence in the cryptocurrency payment ecosystem.
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