Shield Secures $5 Million Seed Funding to Power Global Crypto Payments
A Major Funding Milestone
Crypto neo-bank Shield has successfully raised $5 million in a seed round led by Giant Ventures, the company announced on Monday. Since its launch in 2022, the startup has evolved rapidly, pivoting toward payment solutions in 2024. Its core offering enables exporters and importers to settle cross-border transactions in U.S.-backed cryptocurrencies, while simultaneously handling regulatory compliance checks such as sanctions monitoring and anti–money laundering (AML) safeguards.
Building Crypto for Real-World Business
For co-founder and CEO Emmanuel Udotong, the motivation behind Shield was rooted in frustration. “We were disappointed by the lack of competing mainstream use cases for crypto,” he explained, pointing out that much of the industry had been dominated by “bad actors” making headlines for the wrong reasons.
Udotong added, “We wanted to help bring blockchain technology into the real economy by solving real problems.” Along with his brother Isaiah and college friend Luis Carchi, he identified stablecoins as a viable tool to fix long-standing challenges in global trade payments — challenges they themselves encountered when previously running a trade-focused venture.
The Problem with Cross-Border Trade
“Today, trade businesses in regions like Latin America, Africa, and parts of Asia often wait days or weeks for international wires, pay high fees, and in many cases, can’t access U.S. dollars at all,” Udotong told TechCrunch.
The consequences, he said, are severe: “Many companies face limited trade corridors, less buyer opportunities, stunted growth, and, in too many cases, failure.”
Shield’s mission is to change that equation. By simplifying payments and increasing access to stable U.S. currency through crypto, the company aims to expand opportunities for businesses in emerging markets, giving them a stronger foothold in international trade.
Regulatory Footprint and Growth Momentum
Shield is already registered as a money services business in the U.S. and operates as a licensed crypto exchange in the EU, signaling its commitment to compliance. The results so far are promising: since its inception, Shield has processed over $100 million in payments, including $40 million in the past month alone.
This growth aligns with the broader rebound in the crypto sector, which in the past year has seen new unicorns emerge and attracted hundreds of millions of dollars in investment after a difficult reputation slump.
Competing in a Crowded Market
Despite its traction, Shield faces stiff competition. The international payments space already includes dozens of startups and major players such as PayPal’s Xoom and Stripe’s Bridge. However, Shield’s focus on underserved regions and its compliance-first approach may help it carve out a distinct niche.
Backed by Industry Heavyweights
The $5 million round was spearheaded by Giant Ventures, a connection Shield made through a fellow founder. Other participants include Chris Dixon’s a16z crypto accelerator, Factor Capital, and strategic angels from Coinbase and Bank of America. To date, the company has raised $7 million in funding.
The new investment will be directed toward strengthening banking partnerships — Shield currently works with two unnamed partner banks — and expanding its compliance infrastructure. “That includes expanding licensing coverage, upgrading transaction monitoring and fraud detection, and growing our compliance team headcount and expertise,” Udotong confirmed.
A Vision for Inclusive Global Trade
Ultimately, Udotong believes Shield’s success could level the playing field for businesses operating in difficult trade environments. “If we succeed, more businesses in underserved regions will survive and grow, creating jobs and wealth for their communities instead of being left behind,” he said.
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