IntellectEU, a technology company developing blockchain-based solutions, has announced that it has raised €2 million from Pamica NV, the investment company of fintech entrepreneur Michel Akkermans.

The announcement was made on the first day of Money2020 Europe. In its official release, IntellectEU said that it will use the funding to continue its growth at an international scale for enterprise-ready blockchain and distributed ledger technology (DLT) solutions, particularly in finance.

“We welcome Michel Akkermans as an investor and Chairman of the company. He has a proven track record of building successful companies, especially in the field of financial technology and his experience will prove to be invaluable for IntellectEU to support its exponential growth”, Dirk Avau, CEO and Co-founder, said.

Founded in 2003 by Avau and Hanna Zubko, IntellectEU aims to enable its customers and partners to maintain their competitive edge in the fast-paced environment. It believes that blockchain technology can help achieve this goal by bringing operational efficiency, reduced cost, and new revenue streams.

“While significantly further investing in our core activity in the field of SWIFT, we also recognise the potential of distributed ledger technology and are looking forward serving our customers to take advantage of those emerging business models”, Zubko added.

The firm has built blockchain-based solutions for insurance claim management, KYC/identity management, document management and authentication, supply chain transparency and provenance tracking, smart correspondent banking and central bank use cases. In 2016, IntellectEU joined industry leaders as a founding member of Linux Foundation’s Hyperledger. In addition, it has also built expertise with Ethereum, Chain Core, and R3’s Corda and has integration and business partnerships with SWIFT and IBM.

“There are still significant opportunities to explore in the current financial messaging systems. Combining this with the deep expertise IntellectEU has in the latest and most promising Blockchain and distributed ledger technologies, offers a great scope for execution on a global level. I appreciate the drive of the two founders who have grown the company to the unique position it finds itself in today”, Michel Akkermans said.

IntellectEU has office locations in Brussels, Kiev, Lisbon, Mexico City, and New York and has built a portfolio of integration and development services for the global financial market.

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