French treasury management startup Fipto has raised $16 million in a seed round led by Serena Williams' venture capital fund. Paris-based Fipto uses blockchain technology to help speed up payments in both fiat and digital currencies for businesses. Treasury management is about managing and planning for an organization's financial needs, often by putting available cash to work elsewhere but international payments can often take time to settle - adding complexity to the role. Founded in 2022, Fipto's seed funding round was led by Serena Ventures and Motier Ventures. The company started raising funding late year and closed the round in April with Fipto benefitting from increased investor interest in the treasury management sector, Mollard added.

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Persons: Serena Williams, Patrick Mollard, Mollard, Fipto Organizations: Treasury, Serena Ventures, Motier Ventures Locations: Paris, Europe