Award winning Danish fintech ARYZE is launching a USD $15 million funding round after selecting Episode Six and IBM to support initiatives aimed at solving the inefficiencies of today’s payment systems and reducing the costs significantly. Agreement with customers has been signed.
In 2019, the prestigious Fintech50 selected ARYZE as one of the 10 most promising European fintech companies, and in 2020 the company’s CEO, Jack Nikogosian, was featured on Forbes 30 under 30. The Copenhagen-based company is creating Digital Cash, a programmable digital replica of real currencies. ARYZE aims to make it significantly cheaper and easier to move money globally through a single cloud based infrastructure that includes the unbanked people of the world. Smarter data management will make the tracing of illegal money transfers easier and lower credit risk.
Change the way that people and organizations transfer and store funds
In order to achieve this, ARYZE is launching a USD $15 million funding round, and has selected IBM and next-generation financial technology provider Episode Six to complete their platform.
IBM is delighted that ARYZE has chosen us to help them realize their vision in a co-creation approach using IBM’s Open Hybrid Cloud platform and the IBM Garage design thinking approach to drive agility and a flexible cloud native approach. Episode Six’s technology provides a perfect foundation to develop ARYZE’s solutions and is complementary with IBM’s approach to creating financial service innovations on a hybrid multi-cloud platform, says Pål Krogdahl, CTO and Banking Industry Technical leader for IBM in the Nordics.
A positive impact on the world
ARYZE CEO Jack Nikogosian is looking forward to making a positive impact on the world with IBM and Episode Six
Digital Cash is going to have an immensely positive impact on the world. To build it, ARYZE is using fully tested, currently operational best-in-class services which can be scaled and adapted in the future. With IBM and Episode Six, we have the tools required to support our backend activities and to ensure that we can adapt to new trends, habits and technologies going forward, says ARYZE CEO Jack Nikogosian.
Solving complex global financial challenges
Episode Six’s partnership with ARYZE follows its expansion in three of the world’s largest financial markets – Tokyo, Singapore and London. The financial technology provider, which also operates in Hong Kong and Austin, Texas, is enthusiastic about its upcoming work with the Danish fintech:
We are looking forward to collaborating with ARYZE, a highly regarded European company that has set out to solve global financial challenges and offer innovative solutions to organizations that are making a difference. Our technology offers the nimbleness companies like ARYZE are looking for in order to innovate and ultimately deliver the financial products that customers demand in an evolving market landscape, said Episode Six CEO John Mitchell
Looking to raise $15 million USD funding
ARYZE will be ready to launch their Digital Cash solution shortly after completing a $15 million USD funding round.
The funding structure is a rather unique and innovative way of raising capital compared to anything that has been seen in the past regarding the financing of developing technology and financial companies. A combination of a traditional equity investment and a regulated token financing in a hybrid model will play on both the short term performance of ARYZE and on assets values building up on the balance sheet in the long term, says Co-founder and CFO of ARYZE, Morten Nielsen
ARYZE will license Episode Six’s technology to complete its propositions targeted initially toward non-governmental organizations (NGOs) and support the fintech’s broader initiatives. IBM will host the ARYZE technology stack in a Linux One cloud environment and provide development services through the IBM Garage™. ARYZE has signed letters of intent with the first customers using the platform in the future.
The cost of moving money, both domestically and internationally, is an almost $2 trillion industry because fees are too high, and the inefficiencies of today’s payment systems have important implications for both individuals and businesses. Annually, more than $600 billion from drugs and human trafficking are laundered through the world’s existing payment and banking systems. 1.8 billion people worldwide are completely excluded from accessing basic financial services, trapping them in inescapable poverty, and preventing significant economic growth.
ARYZE, a Copenhagen fintech established in 2017, is aiming to solve the problems by moving the management of payments and data into highly efficient cloud-native banking software that works across legacy as well as blockchain-based systems. By creating extensions from our core cloud-native banking systems to blockchain solutions, we are creating an ecosystem that can build and host the financial services of tomorrow.
ARYZE is creating Digital Cash, a one-to-one representation of money that is almost fully backed by central bank deposits directly and indirectly. This will make it significantly safer to move and store money digitally globally than it is today.
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About Episode Six
Episode Six provides a next-generation financial technology platform for creating innovative and differentiated financial and payments products for consumers and businesses, enabling financial institutions, fintechs and other innovative companies to serve their customers better. Episode Six was founded by payments pioneers with the mission of redefining what is possible in the financial services and payments industries – industries that are increasingly burdened with inflexible legacy technology, which severely limits product evolution and innovation.
Episode Six’s proprietary, innovative technology was built from scratch using state-of-the-art technology and was architected to be future-proofed. It provides unparalleled product customization and on-demand product management capabilities. It is portable and compatible for use anywhere in the world with easy installation, integration and connection facilitated by an extensive and comprehensive set of APIs. Episode Six makes it possible for companies of all sizes to effortlessly design and manage products that consumers and businesses want and need. For more information, visit www.EpisodeSix.com.