Interlace Secures $10 Million in Series B1 Funding, Expands Leadership Team to Accelerate Global Growth

Fintech platform Interlace has secured $10 million in Series B1 funding to accelerate its global expansion.

The funding round was led by Bitrock Capital, with participation from early employees and senior managers from Klarna and Robinhood. To date, Interlace has issued over 4.5 million cards, integrated with 100+ partners, and processes over 60 million transactions annually.

The new funding will be used to support Interlace's continued global expansion into key markets such as APAC, the US, and the UK. A significant portion of the investment will be allocated to building an international team, to better serve a diverse and global client base.

As part of this expansion, Interlace has also announced the addition of four seasoned executives to its leadership team. Mark Thomson joins as Chief Revenue Officer, Jeff Chen as Chief Product Officer, Rob Frohwein as Chief Operating Officer, and JP Lee as Chief People Officer.

Michael Wu, Founder and CEO at Interlace, said: “We are excited to welcome Mark, Jeff, Rob, and JP to our leadership team. Their combined expertise and vision align perfectly with our mission to revolutionize global financial solutions. This expansion of our team, along with the new funding, positions us to accelerate our global growth and enhance our services for clients worldwide.”

Emphasizing Interlace's strengths in cross-border payments, Bitrock Capital expressed confidence in the company's capabilities.

Alfred Shang, Founding Partner at Bitrock Capital, said: “The Bitrock team is really impressed with Interlace's technological and product capabilities. In only a couple years they have developed effective and compliant solutions to help cross border merchants make and receive payments. We think Interlace is uniquely positioned to capture the significant opportunities in the global payment markets with its young and eager management team and robust fintech capabilities. Bitrock will continue to support Interlace's strategic and business development to create exceptional value for exporters and merchants as they navigate the challenging global trade and finance markets.”

Founded in 2019, Interlace delivers the most efficient and cost-effective cross-border, cross-currency, and cross-system financial solutions for Web3, cross-border e-commerce, B2B trade, developers, and more.