FreeBnk
Investment platform for crypto and tokenized real-world assets.
| Date | Investors | Amount | Round |
|---|---|---|---|
* | $3.0m | Seed | |
| Total Funding | 000k | ||
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FreeBnk is a Lithuanian-based financial technology company developing a platform that integrates cryptocurrency services with traditional financial products. Officially launched in 2021, the company was co-founded by Yunus Emre Ozkaya (CEO) and Arash Lowni, who aimed to simplify the complexities of digital finance and make it more accessible. In July 2024, FreeBnk secured $3 million in a funding round led by Founderheads, with participation from ChaiTech Ventures, LVT Capital, and Lavender Capital, to enhance its user experience, particularly for individuals new to crypto.
The core of FreeBnk's offering is a super app that provides a range of financial services. The platform facilitates the buying, selling, and swapping of cryptocurrencies with features like omnichain liquidity, which allows for transactions across different blockchains without gas fees. A key service is 'FreeBnk RealWorld,' which enables users to invest in tokenized real-world assets (RWAs), including fractional ownership of property, stocks, bonds, and gold. The platform also offers crypto-backed loans, international money transfers, and low-fee payment solutions for merchants and individuals through 'FreeBnk Pay' and 'FreeBnk Transfer'. Security is addressed through multi-party computation (MPC) wallet technology, which removes the need for seed phrases, and a $30 million insurance policy to protect against hacks.
FreeBnk's business model is based on several revenue streams, including commissions of 0.1% to 1% on crypto swaps and bridge transactions, fees from lending and RWA investments ranging from 0.1% to 0.5%, and transaction fees for its payment services. It also offers monthly membership subscriptions and charges for digital inheritance plans. The native FRBK token, with a capped supply of 500 million, is integral to the ecosystem, offering users benefits such as trading fee discounts and reduced costs for other services.
Keywords: crypto investment, tokenized real-world assets, RWA, digital payments, fractional ownership, blockchain finance, omnichain liquidity, crypto card, decentralized finance, financial technology, gas-free transactions, crypto lending, digital inheritance, MPC wallet, cross-border payments, crypto-to-fiat, investment platform, Yunus Emre Ozkaya, Arash Lowni, asset tokenization