Teller Mclarry
14 oct 2025
$7M raised and a new CEO onboard — here’s how we’re building the future of digital finance.
Silicon Valley, CA — October 14, 2025 — Multicent, an emerging global fintech startup building a cryptocurrency-powered neobank and payment processing platform, today announced the appointment of Michael Fendi as Chief Executive Officer and the successful close of a $7 million pre-seed funding round. The investment was led by Soal Private Investor and Sequoia Capital, marking a major milestone in Multicent’s mission to redefine global digital finance.
The new funding will accelerate the development of Multicent’s integrated global financial ecosystem, which unites digital banking, cryptocurrency exchange, trading services, and merchant payment processing into a single platform. Designed for consumers, traders, and small businesses worldwide, Multicent will enable seamless peer-to-peer transfers, online payments, and point-of-sale (POS) solutions—empowering merchants to accept global payments both online and in person.
“We are building more than a payment company—we are creating a global financial ecosystem,” said Michael Fendi, CEO of Multicent, during today’s announcement in Silicon Valley. “With this new funding and the trust of our investors, we are positioned to accelerate product development and expand our services to meet the needs of the modern global digital economy.”
Joshua Oduyemi, founder and co-CEO of Multicent, added:
“Our vision has always been to bridge traditional finance with cryptocurrency and payment processing in a way that empowers everyday users and small businesses. This milestone brings us one step closer to making that global vision a reality.”
With the combined leadership of Fendi and Oduyemi, and the backing of Soal Capital, Multicent is positioning itself as a future global unicorn in the fintech space—blending the strengths of leading crypto and neobank platforms like Coinbase, Binance, Revolut, and Chime with the innovation of payment powerhouses such as Stripe and Square. The company aims to deliver robust merchant payment solutions for a truly borderless global digital economy.