After Raising $4 million, Emtech Plans To Expand And Work With Central Banks In The Caribbean After A Successful Ghana Pilot
Emtech, a Black female owned central bank digital infrastructure provider, targets emerging markets where payments infrastructure need aligning with digital innovations — to improve efficiency, introduce new products and services that are likely to promote financial inclusion, and in ensuring the secure movement of money.
It’s solutions also enable collaboration among multiple regulators, for an integrated regulatory environment that is key to the opening up of cross-border innovations and opportunities.
The startup, which carried out a successful pilot in Ghana, Africa, has signed five agreements with central banks in the continent and the Caribbean region.
The company is reportedly already in production, according to TechCrunch.
Founded by Carmella Cadet, the next stage of growth comes against the backdrop of a recent $4 million seed funding from several investors.
Investors who participated in the round include Noemis Venture, Octerra Capital, Consonance Invest, XFactor ventures, 500 Global, Canaan Partners, and Andrew Lundsten (formerly of Stripe), who also serves as the startup’s advisor.
Her and the team are on a clear mission to build inclusive, safe and resilient financial infrastructures with digital currencies to unleash new markets and opportunities for everyone
Cadet started the company back in 2019 driven by her passion to build the infrastructure needed for stronger financial markets through the closure of financial exclusion gaps and helping people create wealth.
She is a passionate advocate of Blockchain and Digital Currency Technology for payment modernization and financial inclusion efforts.
In her last role after a 10 year career at IBM, Carmelle led the Global Business Development efforts in IBM Blockchain for Payments.