PayFi network Huma Finance raises $38m for on-chain expansion
Huma Finance, which claims to operate the industry’s first payment financing (PayFi) network, has raised $38 million in an equity funding round led by Distributed Global.
Huma Finance raises $38m
The round also drew “significant participation” from İşbank’s TIBAS Ventures, Hashkey Capital, Folius Ventures, and the Stellar Development Foundation, which put down a $10 million investment.
An undisclosed portion of the raise was derived from investments made into the real world assets (RWA) of Arf, the transaction services platform Huma merged with in April.
Founded in 2022 and based in San Fransisco, California, Huma leverages its PayFi network to bridge the “giant liquidity gap” present between real world payment volumes, blockchains, and stablecoins.
Its platform provides on-chain credit with a focus on addressing the liquidity needs of trade financing specifically, and according to Huma, is forecast to reach $10 billion in payment financing transactions by next year.
With the funding, the San Francisco-based start-up says it plans to “further expand” its PayFi network by launching on two new blockchains, Solana and Stellar’s Soroban smart-contract network, “in the coming months”.
