MMC backs streaming payments company, Superfluid, in $9 million Seed round
We’re excited to be backing Superfluid's Seed round alongside Multicoin Capital, Semantic Ventures and others.
Superfluid is building a scalable system for peer-to-peer streaming money, the concept of constantly exchanging value for time, every second. This is achieved via a completely automated recurring payment, flowing continuously instead of on a transaction-by-transaction basis.
Using Superfluid, developers can create streaming agreements with predefined rules that instruct the transfer of any token or digital asset on-chain in a continuous fashion. This means payments are settled every second, eliminating non-payment risks and the related uncertainties. Through real-time netting of income and expenses, the system enables unprecedented capital efficiency, accelerating money velocity exponentially without the need for credit.
“Streaming assets create an entirely new design space for applications within the real-time finance economy. Streaming creates huge capital efficiencies that were not possible in TradFi or DeFi, and provides the foundation for a new generation of DeFi applications to bloom, said Francesco George Renzi, CEO and cofounder, Superfluid. We’re fortunate to have investors that care deeply about radical innovation and who share our vision for the future. This round will help us accelerate development and bring streaming subscriptions, salaries, and reward to DAOs and Crypto-Native businesses.”
We've been incredibly impressed with Fran, Miao, Michele, and the rest of the Superfluid team and the community they have built around the protocol. Superfluid will be using the new funds to recruit for several open positions including a senior smart contract engineer and a marketing manager. Keep an eye on the MMC jobs board for roles.
Blockchain and DeFi continue to be areas of interest and investment for MMC. You can read more about our thoughts on this space here.
If you're building a business in this space, get in touch to see if we can accelerate your journey.