Kriptown Series A Round, October 2024

French fintech company Kriptown has raised $4.6 million in a Series A funding round to develop the first European stock exchange dedicated to small and medium-sized enterprises (SMEs). The funding round was led by BNP ParibasBNP Paribas, BpifranceBpifrance, and Centilux Family Office.

The funding is set to be used to build a platform that offers asset managers and individual investors access to shares in SMEs, along with liquidity through a 24/7 secondary market. This initiative aims to expand the range of assets eligible under the PEA-PME (Plan d'Épargne en Actions pour les Petites et Moyennes Entreprises) framework, which supports the diversification of funding sources for SMEs in France.

Kriptown is positioned at the forefront of a regulatory transformation under the European DLT Pilot Regime, which allows for the creation of financial markets based on blockchain technology. The company has applied for a DLT TSS (Trading and Settlement Systems) licence with the ACPR (French Prudential Supervision and Resolution Authority). By combining the roles of a Multilateral Trading Facility (MTF) and a Central Securities Depository (CSD) within a single infrastructure, Kriptown aims to ensure instant delivery versus payment with minimal counterparty risk.

Mark Kepeneghian, co-founder of Kriptown, stated, “Having BNP Paribas and Bpifrance as shareholders strengthens our mission to create a dynamic financial ecosystem for SMEs. Our goal of reshaping market infrastructure aligns perfectly with their vision of innovation.”

This funding is set to enable Kriptown to significantly enhance access to equity financing for SMEs in Europe, leveraging blockchain technology to create a more robust financial landscape.

French fintech company Kriptown has raised $4.6 million in a Series A funding round to develop the first European stock exchange dedicated to small and medium-sized enterprises (SMEs). The funding round was led by BNP Paribas, Bpifrance, and Centilux Family Office.

The funding is set to be used to build a platform that offers asset managers and individual investors access to shares in SMEs, along with liquidity through a 24/7 secondary market. This initiative aims to expand the range of assets eligible under the PEA-PME (Plan d'Épargne en Actions pour les Petites et Moyennes Entreprises) framework, which supports the diversification of funding sources for SMEs in France.

Kriptown is positioned at the forefront of a regulatory transformation under the European DLT Pilot Regime, which allows for the creation of financial markets based on blockchain technology. The company has applied for a DLT TSS (Trading and Settlement Systems) licence with the ACPR (French Prudential Supervision and Resolution Authority). By combining the roles of a Multilateral Trading Facility (MTF) and a Central Securities Depository (CSD) within a single infrastructure, Kriptown aims to ensure instant delivery versus payment with minimal counterparty risk.

Mark Kepeneghian, co-founder of Kriptown, stated, “Having BNP Paribas and Bpifrance as shareholders strengthens our mission to create a dynamic financial ecosystem for SMEs. Our goal of reshaping market infrastructure aligns perfectly with their vision of innovation.”

This funding is set to enable Kriptown to significantly enhance access to equity financing for SMEs in Europe, leveraging blockchain technology to create a more robust financial landscape.