Hassan Maishera
Lyzi, the crypto payment hub that connects leading brands with Web3 users, announced on Tuesday, April 8th, that it has successfully concluded a €1.3 million seed funding round.
In a press release shared with Cryptowisser, Lyzi said several well-known investors participated in the round, including Christopher Grilhault des Fontaines, NYX Venture in Singapore, and Jean-Luc Bernard, founder of Astek, a French Tech company with a global presence in 26 countries.
Funds raised during the round will be used to accelerate the development of Lyzi's technology and further expand its team as the company prepares to bring its services to more countries across Europe later this year.
Lyzi is built on the Tezos blockchain, and its solution was developed over two years of intensive research and testing. By directly addressing the growing demand for cryptocurrency payment options in both retail and e-commerce environments, Lyzi provides buyers and merchants with payment flexibility, allowing holders of cryptocurrency to pay in the currency that best suits them, while merchants collect in cryptocurrency and receive fiat directly into their bank account, without the risk of volatility.
The platform offers a seamless experience. It has already secured partnerships with global brands and integrated with more than 350 cryptocurrency wallets worldwide, positioning itself at the forefront of the crypto-to-fiat payment revolution.
While commenting on the funding round, Lyzi's CEO and co-founder, Damien Patureaux, said,
"This funding marks a significant milestone in our mission to bridge the gap between cryptocurrency and traditional commerce. People expect to be able to pay in the manner that best fits their needs and lifestyle. Accepting payment in crypto is also gaining in popularity among merchants, both in-store and online, thanks to advantages such as rapid settlement and crypto’s ability to streamline access to global customers. By integrating Lyzi, businesses can ensure that they’re attractive to customers who wish to pay in crypto while also seamlessly capitalizing on the booming digital asset market with an innovative and secure solution."
According to Lyzi, the crypto payment market is experiencing rapid growth, with cryptocurrency ownership in France projected to reach 18% in 2024, up from 12% the previous year. Globally, the number of crypto users is expected to grow from 580 million in 2023 to over 1 billion by 2027.
The platform has already connected 400,000 points of sale through strategic integrations with payment providers and point-of-sale systems, including Sylq, Yavin, LyfPay, Paxstore and Sunmi Store, and Nepting. Notable merchant partnerships include luxury retailer Printemps, Fitness Park, St. Dupont, and LG Auto, with more to be announced later this year.
Lyzi is now set to focus on launching on the EVM-compatible Tezos Layer-2 Etherlink blockchain, a move that should be completed by Q2 of 2025. Lyzi’s continued expansion and development of new platform features, coupled with Tezos' increasing adoption in the financial sector, create a favorable environment for Lyzi's solution.
Cédric Roche, Head of Business Development at Nomadic Labs, a Paris-based Tezos R&D Hub, added that,
“Cryptocurrency really represents the last word in financial freedom and flexibility, and Lyzi is changing the game by bringing the power of crypto payments to merchants and customers worldwide. And by building on Tezos, they can ensure that users of the platform can avail of rapid settlement and best-in-class security - essential attributes for any modern payment infrastructure.”
Damien Patureaux concluded that,
“Our goal is to make accepting payments in crypto so easy that merchants have to ask themselves, “why wouldn’t I do that?”. And since crypto is global we’re really excited to bring our solution to more markets around the world and integrating with Etherlink is the next phase of that journey.”
Founded in 2022, Lyzi is democratizing cryptocurrency payments with a simple and secure solution. Already adopted in over 400,000 points of sale, Lyzi connects merchants to Web3 solutions, making transactions easier and enhancing the customer
Tezos is an open-source and energy-efficient blockchain designed to empower institutions, developers, and businesses and facilitate value transfer in a digital environment. It is designed for the scalable deployment of decentralized applications. As one of the first Proof of Stake blockchains, Tezos is globally supported and valued for its strong governance, long-term upgradability, and smart contract capabilities.
Finally, Etherlink is a non-custodial, EVM-compatible Layer 2 blockchain powered by Tezos Smart Rollups. Etherlink is permissionless, inherits the technology of Tezos’ Layer 1, and features a decentralized governance model, fraud proofs, and censorship resistance.
