Circular economy fintech DIEM secures seed investment round of $5.5m
DIEM, a London-based circular economy-oriented fintech start-up, has announced a seed investment round of $5.5m.
Financing will boost DIEM’s acceleration plans in expanding its consumer base both in UK and the pan-European region.
The investment round is led by Fasanara Capital, a UK-based finance-focused specialist fund, and supported by Chris Adelsbach, founder of Outrun Ventures and additional investors include Andrea Molteni (early investor in Farfetch.com luxury marketplace), Ben Demiri (co-chairman at fashion tech PlatformE) and Nicholas Kirkwood (founder of the eponymous brand).
DIEM powers a disruptive concept in fintech: merging solutions to address both personal finance and collective environmental needs. Its mission is to empower consumers to value, unlock, and enjoy wealth they never knew they had, best described by its founder, Geri Cupi as the “Bank of Things”. DIEM offers a highly unique service on top of regular debit card access, competitive international transfer rates and user-friendly valuation and spending analytics. In simple terms, DIEM enables consumers to receive instant payments for their things.
Geri Cupi comments: “DIEM’s mission is to empower consumers to value, unlock, and enjoy wealth they never knew they had. All of this while fuelling the circular economy and supporting the commitment to sustainability as our key value proposition. DIEM makes it possible for capitalism and sustainability to co-exist. I am excited to create value for our future customers, which will be helped by the current funding round.”
Lead Investor and CEO at Fasanara Capital, Francesco Filia, highlights: “Fasanara is excited to announce our partnership with DIEM and Geri Cupi whose unparalleled and unique approach is truly category-defining within fintech. We are compelled with DIEM’s vision, setting precedent as a new generation fintech powered by principles of circular economy and look forward to support its growth.”