Investment in Stablecoin Infrastructure Firm Utila Boosted by $22M in Expanded Series A Financing Round
Utila Raises $22 Million in Series A Extension Round
Utila, a Tel Aviv and New York-based stablecoin startup, has announced a successful Series A extension round, raising $22 million. This fresh capital will be used to expand into emerging markets in Latin America, Africa, and the Asia-Pacific region.
The funding round was led by Red Dot Capital Partners, with participation from Nyca, Wing VC, DCG, and Cerca Partners. FunFair Ventures and SilverCircle also joined the round, further demonstrating the confidence investors have in Utila's potential.
Utila's platform allows non-crypto native enterprises to integrate stablecoin operations into their systems, providing services such as handling payments, treasury, and trading functions, while ensuring compliance and continuity. This innovative approach has been a key factor in the company's growth.
The company has nearly tripled its valuation over the last six months and has doubled its customer base since March. Utila is now processing over $15 billion in monthly transactions, a testament to the rapid adoption of stablecoin payments globally.
The signing into law of the GENIUS Act has been a significant factor driving growth in the stablecoin industry. This legislation provides clarity for issuing tokens pegged to fiat currencies and guidelines for traditional banks looking to integrate digital assets into their systems. Bentzi Rabi, co-founder and CEO of Utila, refers to Stripe's acquisition of stablecoin startup Bridge and Circle's IPO success as the "Bitcoin ETF moment" for stablecoins.
The latest fundraising brings the total raised for the Series A round to $40 million. Utila initially announced $18 million for the Series A round in March. The company had previously raised $11.5 million in a seed round announced in March 2024.
The rapid adoption of stablecoin payments globally continues to drive Utila's expansion into new markets. As the company continues to grow, it is poised to play a significant role in the future of digital finance.
