Irish fintech NoFrixion raises €3.6 million as the start-up plans to grow its team

Dublin-based fintech NoFrixion has raised €3.6 million as the company looks to increase headcount.

The funding round was led by Delta Partners and Middlegame Ventures and accompanied by Furthr VC.

Launched 12 months ago, NoFrixion enables instant payments for e-commerce and offline transactions.

The company was co-founded by Feargal Brady and Aaron Clauson. The pair previously founded cloud-based telecoms provider Blueface and later sold it to Comcast.

Following the funding round, NoFrixion hopes to expand its engineering and sales teams.

NoFrixion now has customers in Ireland, UK, Belgium and Portugal and has also signed several large system integrators.

The funding follows the launch of NoFrixion’s MoneyMoov API, which aims to bridge the gap between legacy and digital infrastructure. It also simplifies payment automation and reconciliations.

Mr. Clausen, who is now CTO of NoFrixion, said the vision is to support merchants with existing payment networks and prepare them for future networks based on digital wallets stored on a mobile phone.

“NoFrixion’s platform was built to support digital wallets and the Bitcoin Lightning network from day one,” he said.

“Getting paid and making payments has become increasingly expensive and complicated,” said co-founder and CEO Feargal Brady.

“We are transforming this underlying infrastructure and aiming for instant and cost-effective transfer of value – both offline and online.”

https://www.independent.ie/business/irish/irish-fintech-nofrixion-raises-36m-as-start-up-plans-to-grow-team-42035042.html Irish fintech NoFrixion raises €3.6 million as the start-up plans to grow its team

Fry Electronics Team

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