Credit-and-collect fintech start-up Diem heightens $5. 5M Seed helped by Fasanara Capital

Diem , a London, UK-based fintech start-up has exalted a seed round of the $5. 5 million contributed by Fasanara Capital, as well as , Angel investor Chris Adelsbach, founder of Outrun Schemes. Additional investors include Andrea Molteni (early investor towards Farfetch), Ben Demiri (co-chairman at fashion tech PlatformE) and Nicholas Kirkwood (founder of the eponymous brand).  

Diem can be described debit card with an instance affording instant cash access, regular banking service benefits (debit card, domestic and world bank transfers), but also empowering consumers to dispose of something for eventual resale. The speculation here is that this feeds the particular so-called circular economy, causing Diem attractive from an the environmental point of view. Some estimates squeeze amount of worth of goods dumped in the last 15 years every $6. 9Tn.

Here’s how it works: You’ll have an old time of clothing, expenses, book or bag, for example. You load the item the application into the app. The application makes you an offer for what it is worth. If you accept, salary is loaded into your plan and there’s a unit to spend in the item, greatly reduce then resold. The incentive, therefore , is not to throw away the goal and add to landfill, mainly because you have now turned it in order to cash. Think “neo rely meets people who sell your stuff on eBay”

Geri Cupi said in a statement: “Diem’s mission is to empower consumer to value, unlock, and luxuriate in wealth they never was aware they had. All of this while fuelling the circular economy as well as , supporting the commitment that can sustainability as our tip value proposition. DIEM helps capitalism and sustainability which can co-exist. ”

Lead Investor and TOP DOG at Fasanara Capital, Francesco Filia, said: “Fasanara is considered excited to announce our love with DIEM and Geri Cupi… [it’s] a new generation fintech run by principles of transitar economy and look forward to carry its growth. ”

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