Unbox, the provider of infrastructure for programmable exchange of value closes a 12 million euros Series A funding round. The financing was led by HSBC Asset Management (HSBC AM) and featured strategic participation from SFPIM Relaunch, a subsidiary of the Belgian Sovereign Wealth Fund.
Unbox has developed a proprietary technology to imbue virtually anything with a memory, a conscience, and a forward-looking vision. This transformative capability embraces a diverse range of assets, from financial resources to tangible products. Emphasising privacy and security, the Unbox technology facilitates closed loops, allowing the parties to an exchange to exercise control, distribution, and registration of any (un)fungible value. Whether it is traditional currency or local community currencies through the Unbox Community Issuance software suite, or high-value assets like diamonds or semi-conductors, and even low-value items such as plastic bottles or toys using the Unbox State of Product software suite, Unbox's platform offers unparalleled versatility.
The funds will allow Unbox to further expand its software platform to better serve its target markets and deliver technology solutions for flagship and industry-led projects. A sizeable portion of the investment will be directed towards talent recruitment and the ongoing development of existing team members. Brussels, Belgium will serve as a central hub for Unbox’s global operations.
Remi BOURRETTE, HEAD of VENTURE INVESTMENTS at HSBC AM: “We are pleased to lead this investment round for Unbox and support them in their mission to enable targeted and transparent funding distribution through their versatile software platform. Thanks to their technology, traceability and programmability can be embedded into existing payment networks, which simplifies deployment. As governments, institutions and not for profit organisations are constantly looking for more efficient ways to distribute grants or financial support, we believe the need for solutions such as Unbox’s will rapidly expand. This investment is part for our venture capital strategy focused on fintech and enterprise software.”
Koen VAN LOO, CEO of SFPIM: “Belgium stands as a global stronghold for life-science and aeronautic innovations, leveraging the talent and academic excellence emerging from its universities. As the host country of the European Union, Belgium aspires to position itself as a leading hub for financial innovation and radical transparency amid the intricacies of today's geopolitical landscape. The investment of our subsidiary SFPIM Relaunch in Unbox not only aligns with this strategic objective but also contributes to nurturing high-potential companies, fostering even greater talent from Belgian universities, and enriching both our economic and academic ecosystems.”
Erik SAELENS, CEO of UNBOX: “SFPIM stands out as one of the most influential funds in Europe. The investment from industry leaders like HSBC AM and SFPIM is a major milestone for our company, and their expertise and strategic support are poised to play a pivotal role in our continued growth and success. I want to seize this opportunity to express my sincere gratitude for the unwavering support of our global team of Unboxians, clients, and business partners.”
The conclusion of our Series A round also signifies the release of the Unbox white paper titled “Design Principles for Money in the 21st Century.” Money is the bloodstream of economies, yet its nature has not evolved through numerous industrial revolutions. Money is a wonderful invention, but in its current form, it is outdated. It is time to think about something new.
The white paper is co-authored by Unbox CEO Erik SAELENS and CTO Joeri TORFS, along with other members of the Unbox management team and the Unbox Board of Directors. The document is available for reading here: Design Principles for Money in the 21st Century
For more information, please contact
Mrs. Lotte VAN DIJCK | CFO Unbox | firstname.lastname@example.org