Key Highlights
- Levl secured $7 million in seed funding to replace outdated banking systems with a digital payment layer built on dollar-pegged stablecoins.
- The platform already processes over $1 billion in annual transactions, acting as a backend bridge for neobanks and global remittance providers.
- The new capital will support a 100% increase in workforce to accelerate the company’s expansion in Latin American and African markets.
Levl, a fintech firm that specializes in digital assets infrastructure, today announced it has raised $7 million in seed funding to develop a stablecoin-based payments platform. Galaxy Ventures led the investment round, with additional support from Protagonist, Deus X, and Blockchain Builders Fund.
According to a report, the company plans to use the funds to improve how fintech firms and digital wallets handle cross-border remittances and business-to-business payments using stablecoins typically pegged to the US dollar.
Bridging traditional and digital systems
This funding comes as fintech firms are increasingly seeking opportunities to incorporate stablecoins into their systems without incurring the costs associated with creating their own.
By offering a ready-to-use infrastructure, Levl aims to connect traditional financial systems and digital assets. This will enable a client to avoid the slow banking methods commonly employed during international transfers.
The startup serves as an infrastructure layer for over 20 current clients, including neobanks and international payment providers like TerraPay and Taptap Send. Jaisel Sandhu, the founder and CEO of Levl, mentioned that the platform enables these businesses to benefit from blockchain technology without needing to handle the complexities involved.”
“Instead of the fintech rebuilding their internal plumbing, we can abstract away all the complexity of trying to bridge traditional payments systems with digital assets,” Sandhu said.
Inspiration from traditional finance
Sandhu’s idea for the company came from his experience in traditional finance at AQR, one of the largest hedge funds in the world. As he traded his way through the stock market and foreign exchange market, he saw a vast difference between what was available to professionals through Bloomberg terminals and what was made available to regular consumers through mobile apps.
This became his inspiration to develop a platform to make money transfers between countries more equitable. Since its official launch in August, Levl has generated an annualized transaction volume exceeding $1 billion through undisclosed transaction fees.
Growth and expansion
The new funding is expected to quickly impact the company’s operations and growth. Levl plans to double its workforce from 18 to 36 employees and will focus on expanding in the Latin American and African markets.
Sandhu pointed out that the company sets itself apart from competitors by offering global services instead of regional ones. “We’re one of the few stablecoin native providers that can do a payment in Mexico and the Philippines via the same API that you can plug into in a couple of days,” he said.
Future market outlook
While the company’s valuation was not disclosed, the seed round reflects growing investor interest in stablecoin infrastructure.
By positioning itself as a facilitator that makes the shift from fiat to digital assets easier, Levl believes the future of global remittances lies in blockchain-based settlements that operate outside traditional banking hours and fees.
Also Read: Zand Expands Ripple Partnership to Scale Global Stablecoin Adoption
