Immersve
Makes it possible for DeFi protocols, NFT projects and Game-Fi applications to issue their own branded credit cards, tailor relevant rewards for community members and deliver decentralized payment experience in real life / web2.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor investor investor | €0.0 | round |
* | N/A | Seed | |
| Total Funding | 000k | ||
| USD | 2022 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Dealroom estimates
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Immersve, founded in 2021 by Jerome Faury, Matic Lesjak, and Nathan Jones, is a financial technology company headquartered in Auckland, New Zealand. The company has established itself as a principal member of the Mastercard network, focusing on bridging the gap between Web3 technologies and conventional payment systems. CEO Jerome Faury's background includes co-founding Centrapay and being a founding member of Payment Express, where he was instrumental in its growth into a major payment processor in the Asia-Pacific region.
The core of Immersve's business is its "issuing-as-a-service" platform, which enables both centralized and decentralized payment experiences. The company's clients are primarily decentralized applications (dApps), crypto exchanges, and Web3 wallets that want to offer their users the ability to spend digital assets in the real world. Immersve's business model involves providing the necessary technology and regulatory licenses for these clients to issue their own branded virtual or physical cards that are accepted anywhere on the Mastercard network. This is achieved through APIs and smart contracts that clients can integrate into their existing platforms.
The service allows end-users to make purchases directly from their non-custodial Web3 wallets without needing a bank or holding their crypto as collateral with a third party. When a transaction occurs, the user approves it by signing with their private key. Immersve facilitates the conversion of a stablecoin, specifically USDC, into fiat currency to settle the transaction on Mastercard's network through a partnership with a third-party settlement provider. This process leverages Mastercard's infrastructure for security protocols such as KYC/AML and fraud detection. By integrating with traditional payment rails, Immersve aims to make digital assets as practical and easy to use for everyday spending as traditional currency.
Keywords: Web3 payments, crypto-to-fiat, card issuing platform, Mastercard partnership, decentralized finance, stablecoin transactions, non-custodial wallet, financial technology, payment protocol, digital assets