Credit-and-collect fintech start-up Diem raises $5.5M Seed led by Fasanara Capital – TechCrunch


Diem, a London, Uk-based mostly fintech start off-up has raised a seed spherical of $5.5 million led by Fasanara Funds, and Angel trader Chris Adelsbach, founder of Outrun Ventures. Extra traders involve Andrea Molteni (early investor in Farfetch), Ben Demiri (co-chairman at manner tech PlatformE) and Nicholas Kirkwood (founder of the eponymous brand). 

Diem is a debit card with an app affording prompt cash entry, common banking company rewards (debit card, domestic and international lender transfers), but also enabling customers to dispose of merchandise for eventual resale. The idea listed here is that this feeds into the so-identified as circular overall economy, producing Diem interesting from an environmental issue of see. Some estimates set the amount of value of items disposed of in the past 15 yrs at $6.9Tn.

Here’s how it performs: You have an previous time of apparel, cell phone, e book or bag, for occasion. You load the product it into the application. The application can make you an present for what the merchandise is value. If you acknowledge, hard cash is loaded into your account and there is a facility to shell out in the product, which is then resold. The incentive, thus, is not to toss away the object and add to landfill, for the reason that you have now turned it into hard cash. Think “neo financial institution satisfies persons who market your things on eBay”

Geri Cupi claimed in a assertion: “Diem’s mission is to empower customers to worth, unlock, and get pleasure from prosperity they never realized they experienced. All of this though fuelling the circular economic system and supporting the dedication to sustainability as our key worth proposition. DIEM would make it probable for capitalism and sustainability to co-exist.”

Lead Trader and CEO at Fasanara Capital, Francesco Filia, claimed: “Fasanara is thrilled to announce our partnership with DIEM and Geri Cupi… [it’s] a new era fintech run by concepts of round economic system and look forward to guidance its development.”



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