London-based blockchain payments processing platform Helio has raised $3.3m (£2.6m) in seed funding to expand its team.
Ecommerce merchants use Helio to process payments using crypto assets.
“Payments is the ultimate blockchain killer app, promising lower fees, instant settlement for merchants, and increased privacy & friction-free checkouts for users,” said Stijn Paumen, CEO of Helio.
“Our goal is to bring these benefits to 100s of millions of users over time by lowering the barriers of using web3 technology and offering a familiar payment UX.”
The Helio platform supports payments on several blockchains, including Solana and Polygon.
The Web 3 startup’s seed investment was led by Peak and Lightspeed Faction and featured participation from RockawayX, Solana Labs and a number of angel investors.
“Digital payments is a +10trn market with double-digit growth driven by emerging payment technologies such as blockchain payments,” said David Zwagemaker, a partner at Peak.
“Helio will be leading the way with their API and simple UI that makes it easy for anyone to integrate in minutes and process Web3 payments without any prior blockchain experience.”
Since last year’s launch, the company has claimed to have processed over $10m in payments and served over 1,000 merchants on the platform.