Tezos-Powered Lyzi Secures €1.3 Million, Brings Flexible Crypto-to-Fiat Payments to Retail

• Tezos-based Lyzi secures €1.3 million in seed funding
• 400,000 points of sale already connected by Lyzi Lyzi, the crypto payment hub that introduces brands to the Web3 audience, announced today the successful completion of its seed funding round. Fresh funds will be utilized to support the company's expansion roadmap, including launching in more EU countries this year.

Tezos-based Lyzi secures €1.3 million in seed funding

Lyzi, a new-gen blockchain firm focused on enhancing crypto-to-fiat payments infrastructure at a global scale, shared the details of its latest funding campaign. A total of €1.3 million was raised in seed funding from a clutch of high-reputed VCs, the team's statement says.

Among other blue-chip VCs, the round yielded contributions from Christopher Grilhault des Fontaines, NYX Venture in Singapore and Jean-Luc Bernard, founder of Astek, a French Tech company with a global presence in 26 countries.

Lyzi's CEO and cofounder Damien Patureaux expects fresh funding to help his team offset the gap between fiat and crypto payments for retail businesses:

This funding marks a significant milestone in our mission to bridge the gap between cryptocurrency and traditional commerce. People expect to be able to pay in the manner that best fits their needs and lifestyle. Accepting payment in crypto is also gaining in popularity among merchants, both in-store and online, thanks to advantages such as rapid settlement and crypto’s ability to streamline access to global customers.

Funds raised during the round will be used to accelerate the development of Lyzi's technology and further expand its team as the company prepares to bring its services to more countries across Europe later this year.
Built on the high-performance and energy-efficient Tezos blockchain, Lyzi’s solution was developed over two years of intensive research and testing

By directly addressing the growing demand for cryptocurrency payment options in both retail and e-commerce environments, Lyzi provides buyers and merchants with payment flexibility, allowing holders of cryptocurrency to pay in the currency that best suits them, while merchants collect in cryptocurrency and receive fiat directly into their bank account, without the risk of volatility.

400,000 points of sale already connected by Lyzi

Lyzi has already connected 400,000 points of sale through strategic integrations with payment providers and point-of-sale systems, including Sylq, Yavin, LyfPay, Paxstore, Sunmi Store and Nepting

Notable merchant partnerships include luxury retailer Printemps, Fitness Park, St. Dupont and LG Auto, with more to be announced later this year.

The company’s next step is to launch on the EVM-compatible Tezos layer-2 Etherlink blockchain, a move that should be completed by Q2 of 2025. Lyzi’s continued expansion and development of new platform features, coupled with Tezos' increasing adoption in the financial sector, creates a favorable environment for Lyzi's solution.