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Irish-based Stanhope Financial Group has received $10m in funding from investors to boost its crypto service offerings.
Dublin-based financial services company Stanhope Financial Group has raised more than $10m in its Series A funding round led by Gate Ventures, the investment arm of crypto exchange Gate.io.
Stanhope Financial Group, also known as SH Financial, provides businesses with a one-stop-shop suite of international treasury services. It aims to enable its SME and MME clients bypass delays, multiple providers and unfair charges.
The company only began operating last year, and it has experienced significant growth across all divisions since then.
The funds from its Series A round will be used to strengthen and develop its services. This is to include the launch of an affiliate digital assets division called SH Digital, which will offer cryptocurrency liquidity and trading services.
Mohit Davar, executive chair of Stanhope Financial Group, said the funding would enable the company to expand its key divisions, which have “already made huge inroads into the market.”
“With the upcoming launch of our new digital affiliate, we have the perfect team and fintech platform in place to drive growth for our customers,” he added.
“The adoption of cryptocurrency and convergence with mainstream traditional banking has accelerated the need for Gate.io to work with innovative and regulated companies like Stanhope Group to further develop our product portfolio and continue to build innovative solutions for our customers,” according to Kevin Yang, investment director of Gate Ventures.
Stanhope Financial Group already has a payments division, which is licensed as an electronic money institution. SH Payments offers businesses banking services to send and receive money internationally.
Its capital division is licensed in the DIFC in Dubai to allow institutions and family offices to gain access to global investment products across all capital markets.
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