Copenhagen-based ZTLment has announced the rise of a EUR 2.4 million funding round in order to replace outdated banking infrastructures and solutions. Following this announcement, the pre-seed funding round is expected to be used by ZTLment in order to eliminate the need for outdated banking infrastructures, as well as make the process of developing programmable and peer-to-peer payments easier and more secure.

The funding came from investors PreSeed Ventures, Upfin, Giant Ventures, and other business angels. In addition, the company will focus on meeting the needs, preferences, and demands of clients and users in an ever-evolving market, while also prioritising the process of remaining compliant with the regulatory requirements and laws of the industry. More information on the announcement ZTLment’s approach was developed in order to address the longstanding challenges that are faced by ordering and booking platforms, including automating fund flows, optimising transaction transparency, as well as maintaining regulatory adherence.

It was also designed to address a broader shift in the market between finance and product teams. The company offers its users a Compliant Wallet Infrastructure, making the transition easy without customers having to recruit expensive payment operations specialists. The solution allows each platform client to access an unlimited number of wallets in order to streamline payments efficiently and transparently without the need to navigate technical or regulatory complexities.

With the upcoming launch, users and clients will have the capability to allocate a multicurrency wallet for every platform vendor, while also facilitating split payouts and releasing funds in escrow based on data events without the need to worry about the underlying rails. Furthermore, the ability to lock and unlock money between multiple parties based on data events is expected to create trust, transparency, and workflow efficiency in cross-border payments and transactions. It will also provide a foundation for letting artificial intelligence agents decide when to release funds while also enabling them to set limits on the amounts.

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