PayTech Sling Money has successfully secured $15 million in Series A funding.

Date – 15-Aug-2024

Sling Money, a cutting-edge payments platform, has announced a significant $15 million boost from its Series A funding round. The investment, led by Union Square Ventures with contributions from Ribbit Capital and Slow Ventures, follows an earlier $5 million seed round backed by Ribbit Capital and Slow Ventures.

Sling Money is revolutionizing global money transfers by integrating stablecoin technology with a user-friendly interface. This approach enables instant, low-cost transactions worldwide, a marked improvement over traditional methods that often incur high fees and slow processing times.

The new funding will support the expansion of Sling Money’s technology and market presence. The platform aims to simplify global financial interactions, making them as seamless as online chatting. Sling Money currently supports transfers across over 50 countries in Europe and Africa and offers a unique feature called Sling Link, allowing users to send money instantly to both Sling users and non-users with minimal to no cost.

Rebecca Kaden, Partner at Union Square Ventures, commented, “Sling Money signifies a major advancement in the global payments landscape. Their innovative use of blockchain technology to create seamless, instant transactions aligns with our vision of expanding access, reducing costs, and unlocking new opportunities for users. We are excited to support Sling Money in this transformative journey.”