Navy Yard Capital LLC backs Rubicon Sh. A. in seed-level financing
Venture capital firm Navy Yard Capital LLC announced its participation in the seed round financing of Albanian-based fintech start-up Rubikon Sh.A.
Rubikon Sh.A. is developing ways to simplify digital payment services by moving consumers from the traditional retail model to mobile banking. "Mobile banking is the way of the future. If the Covid crisis taught us anything, is that people need easier, faster and much more accessible ways to do banking and payment transactions. Mobile is that approach!" said Dr. Rick Murphree, Managing Partner at Navy Yard Capital. "Rubikon Sh.A. is at the forefront of that shift in consumer behaviour, and it has shown to have the capabilities and knowhow to do the heavy-lifting required in that transformation."
"We are excited to be working with Navy Yard Capital" said Dr. Armand Brahaj, Founder of Rubicon Sh.A.. Rubikon Sh.A. began developing the software and protocols required since 2019 and will be releasing a public Beta version in early 2021.
"Nearly 60% of the population in Albania do not utilize banks; therefore, they lack modern means of planning and budgeting daily finances. Our goal is to provide the average person with digital payments services they can access easily from the comfort of their home. Having the financial backing of partners such as Navy Yard Capital, provides us the means to achieve our goals." added Dr. Brahaj.
Seed round financing for Rubicon Sh.A. closes December 2020.
About Navy Yard Capital LLC: Navy Yard Capita LLC is a Delaware-based venture capital firm focuses in early-stage start-ups in the areas of technology and fintech. Along with funding, it also provides consulting and know-how to help start-ups scale. http://www.navyyardcapital.com
About Rubicon Sh. A.:
Based in Tirana, Albania, Rubicon was founded by Armand Brahaj former CEO and founder of ShqiperiaCom Shpk, HOST.al and co-founder of Zana Technologies GmbH. Backed by investors from Albania and abroad, the company has developed its technology based on experience of a team that altogether have more than 20 years in banking and information technology services.