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EMTECH Solutions Logo
EMTECH Solutions, the banking infrastructure provider, said it is raising $4 million or Rs 33 crore in a funding round from Matrix Partners India, with participation from other investors, including BTN, VestedWorld, Equity Alliance, and Lofty Inc.
According to the company's statement, the startup plans to use the raised capital to develop its infrastructure tools for central banks and fintech companies.
Founded by Carmelle Cadet,EMTECH works in the field of regulatory review processes of fintech for central banks with its API-based regulatory sandbox. A sandbox refers to a controlled and isolated environment where software applications or code can run safely without affecting the underlying system and is commonly used for testing, development, or security purposes to prevent potential harm and conflicts with the main system.
The company provides services to six central banks across the world and has indigenously developed Regtech and CBDC stack solutions based on DLT and blockchain technology. It claims that its solutions are being used by the Central banks of Ghana, Nigeria, and the Bahamas.
Carmelle Cadet, Founder & CEO of EMTECH, said, “EMTECH’s adoption of blockchain technology enables the democratization of finance, bringing financial freedom and inclusivity to individuals and businesses of all sizes. With the support of our investors, we are well positioned to expedite our growth, diversify our product offerings and continue to drive transformative change across the financial services landscape.”
Aakash Kumar, Principal at Matrix Partners India, said, “Digital assets and programmable currency in the form of regulated CBDCs can turbocharge financial inclusion. Emtech’s vision of shaping blockchain-powered fintech infra for CBDCs and solutions for fintech regulation is compelling and we are excited to partner with them on their journey.”
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