SettleMint

Headquartered in Belgium, SettleMint offers a fully-fledged low-code blockchain application development platform (blockchain-platform-as-a-service; BPaaS) for developers to build and deploy dApps. The platform utilizes a visual development approach, and includes a deployment, development and a middleware environment containing a suite of ready-to-use tools, frameworks, templates, and APIs to speed up the development of smart contracts and end-user dApps and to connect to off-chain apps.

The platform supports developers to build dApps across cloud providers such as Google Cloud, AWS, and Microsoft Azure while also supporting on-premise and customer cloud integrations. It also enables developers to create permissioned networks or join public networks such as Ethereum , Binance Smart Chain , Avalanche , and Polygon . In addition, SettleMint provides: 1) Integration Studio–to help developers connect blockchain apps to off-chain apps through “drag and drop” pre-built integration modules; 2) Hasura—a backend solution that automatically generates GraphQL APIs for the dApp data; 3) Graph Middleware—to access to data stored in smart contracts on EVM-compatible chains and to connect these data to the dApp; and 4) AI Genie–an AI assistant that assists developers create smart contracts, integrate data, and enhance quality assurance testing.

SettleMint operates under a usage-based model that charges customers on the services opted and the resources utilized (such as memory, vCPU, and disk space) to keep the dApps running. As of October 2022, the company had 55 employees spread across its offices in Belgium, India, Singapore, and the UAE, with plans to raise the headcount to 60.

Key customers and partnerships

As of November 2022, SettleMint’s customers included companies such as Standard Chartered Bank, AB InBev, P&G, Proximus, Carrefour, and tZERO.

In November 2022, SettleMint formed a strategic partnership with Fujitsu, to accelerate the digital transformation of the Fujitsu Enterprise Blockchain and Track and Trust Solutions. Under the agreement, SettleMint’s blockchain platform will be used by Fujitsu for customers in Japan and globally as part of the solutions portfolio of Fujitsu Uvance Digital Shifts, while Fujitsu in-turn will provide professional services to help SettleMint’s customers develop, modernize, and operate new and existing systems.

Funding and financials

SettleMint raised EUR 16 million (~USD 16.6 million) in an oversubscribed Series A funding round in October 2022, co-led by Molten Ventures and OTB Ventures, with participation from Fujitsu Ventures, Allusion, Bloccelerate, and existing investor Medici Ventures. It had planned to utilize the fresh funds to further improve its low-code platform and strengthen its position in Europe, MEA, India, and Singapore, as well as test waters in the US and accelerate its expansion into the Japanese market.