Dublin-based NoFrixion, a business payments startup co-founded by a Bitcoin Core developer, has successfully raised €3.6 million in a funding round led by Delta Partners and Middlegame Ventures.
The funding follows the recent public launch of NoFrixion’s MoneyMoov API, designed to integrate legacy and digital infrastructures to enhance business payment systems. Aaron Clauson, co-founder and CTO, stated, “The technical vision behind NoFrixion is to support merchants with today’s payment networks—predominantly cards and bank transfers—while being prepared for the future networks that will focus on digital wallets stored on customers’ mobile devices.”
The NoFrixion MoneyMoov API offers developers the capability to include various payment options, encompassing cards, open banking (including SEPA and Faster Payments), and Bitcoin Lightning within a single API.
Feargal Brady, co-founder and CEO of NoFrixion, remarked, “Internet banking promised much but hasn’t fully evolved with the instant economy. MoneyMoov connects digital payments to ERPs, accounting platforms, and core business applications, eliminating the need for internet banking, manual processing, and other inefficiencies.”
He added, “We’ve built a world-class engineering team with extensive experience in traditional payments, along with expertise in Bitcoin, security, and user interface design. We are addressing the challenges of the instant economy and developing new digital rails to streamline commerce, making it quicker, easier, and more cost-effective.”
This seed funding comes just a year after the company’s launch with support from Enterprise Ireland. Brady indicated that the new capital will be utilized to expand NoFrixion’s engineering and sales teams.