Baanx is a London, UK–based B2B2C service provider focused on digital-asset friendly financial services. Its core products include physical and virtual debit cards, digital wallets, IBANs/DDA accounts, borrowing/lending, remittance/FX, payment gateways and related payments infrastructure. The company also offers white-label, fully managed applications to user communities to support mass adoption of blockchain technology, digital assets and cryptocurrencies. Led by CEO Garth Howat, Baanx positions itself as a bridge between Web3 technology and the financial services sector. The company raised $20m in a Series A and has raised a total of more than $30m to date. It intends to use the new funds to expand operations, broaden its business reach and support development efforts. Baanx positions itself as a future-facing cryptobank network delivering fiat and crypto mobile banking services and a mobile wallet. Its product roadmap includes insured custody of crypto assets, multi-exchange integration for best-price crypto purchases, virtual cards for crypto-and-fiat payments, white‑labeling and bank‑license sharing to deploy cryptobanks, and crypto‑secured lending and short‑term stablecoin loans. The company says subsidiaries have completed millions in consumer loans in the EU and that it has agreements for up to 1.3 million customers to start using its wallet and services. Baanx is conducting a token pre-sale and has announced a $2 million investment tied to that sale. The team is described as having extensive banking and fintech experience from firms such as JP Morgan, Mastercard, Commerzbank, and UBS. The group states its goal is to simplify and secure crypto‑market payments and enable mass adoption through a combined blockchain crypto and fiat system.

Total raised

$22M

Funding rounds

2

Latest round

Series A

Latest activity

Mar 2024