BoomFi is a London-based fintech company founded in 2023, specializing in providing businesses with seamless solutions for sending, receiving, and converting cryptocurrency payments. The company's mission is to simplify crypto transactions, making them as straightforward as traditional card payments. BoomFi aims to eliminate the complexities associated with various blockchains, payment rails, and currencies, thereby offering an integrated experience for everyday users.
Key Strategic Focus
BoomFi's strategic focus centers on enabling merchants to accept multi-chain cryptocurrency payments efficiently. The company offers a comprehensive suite of services, including payment links, checkout systems, subscription management, billing, invoicing, and pre-payment solutions. These services are designed to cater to various industries such as SaaS, e-commerce, the creator economy, NFT and token projects, marketplaces, and embedded finance. By supporting multiple networks and offering settlements in both crypto and fiat currencies, BoomFi addresses the growing demand for robust and user-friendly crypto payment solutions.
Financials and Funding
In June 2023, BoomFi secured a $3.8 million seed funding round led by White Star Capital. Other notable investors included Passion Capital, Blockchain Founders Fund, Kraken Ventures, GSR, Aquanow, Mantle Network, and founders from companies like Moonpay, Ramp Network, Transak, Layer Zero, and The Giving Block. The capital raised is intended for strategic partnerships, product development, and expanding the merchant base within the web3 sector.
Technological Platform and Innovation
BoomFi distinguishes itself through its versatile integration options, catering to varying technical capabilities with no-code, low-code, API, and embedded integrations. The company's platform supports over 100 cryptocurrencies across major blockchains, facilitating a wide range of payment models, including one-time and recurring payments. Additionally, BoomFi offers services such as fast bank on/off-ramp across major fiat currencies and financial systems, payouts, and digital wallet-as-a-service. These offerings are designed to provide businesses with a comprehensive and secure crypto payment gateway.
Leadership Team
BoomFi's leadership team comprises experienced professionals in the fintech and crypto industries:
- Jack Tang, Co-Founder and CEO, brings a wealth of experience in product strategy and management.
- Michael Si, Co-Founder and COO, has a background in operations and business development within the fintech sector.
- Chao Yan, Co-Founder and CTO, joined BoomFi in November 2023. With 17 years of experience in fintech, Chao was previously the CTO at Elwood, where he played a pivotal role in advancing digital asset solutions for institutional players. His efforts contributed to a $70 million Series A funding at Elwood, supported by investors such as Goldman Sachs and Barclays.
Leadership Changes
The appointment of Chao Yan as Co-Founder and CTO in November 2023 marked a significant addition to BoomFi's leadership team. His extensive experience in fintech and digital asset solutions is expected to drive the company's technological innovations and product development.
Competitor Profile
Market Insights and Dynamics
The cryptocurrency payment gateway market is experiencing rapid growth, driven by increasing adoption of digital currencies and the need for secure, efficient payment solutions. Businesses across various sectors are seeking reliable platforms to integrate crypto payments, creating a competitive landscape with significant opportunities for innovation and expansion.
Competitor Analysis
BoomFi operates in a competitive market alongside several key players:
- Coinify: An established global virtual currency player offering individual currency trading, white-label partner solutions, and payment processing services.
- CoinGate: A Bitcoin payments company providing a gateway for businesses to accept cryptocurrency payments.
- BitPay: Offers a payment gateway with a powerful API, ready-made libraries, and plugins for various e-commerce solutions, facilitating Bitcoin and cryptocurrency payments.
- Coinbase Commerce: Provides a platform for businesses to accept digital currency payments easily and securely.
These competitors focus on enabling businesses to accept cryptocurrency payments, each offering unique features and services to cater to the diverse needs of merchants.
Strategic Collaborations and Partnerships
BoomFi has engaged in strategic partnerships to enhance its market position and expand its capabilities:
- BridgerPay: In June 2025, BoomFi partnered with BridgerPay to power next-generation crypto payments for leading global merchants, aiming to provide seamless and efficient payment solutions.
- Paytiko: In May 2025, BoomFi collaborated with Paytiko to expand crypto payment rails to global merchants, enhancing accessibility and adoption of cryptocurrency payments.
Operational Insights
BoomFi's strategic considerations involve differentiating itself through a comprehensive suite of services, versatile integration options, and a focus on compliance and security. By addressing the complexities associated with crypto payments and offering tailored solutions for various industries, BoomFi aims to establish a strong market position and competitive advantage.
Strategic Opportunities and Future Directions
Looking ahead, BoomFi plans to leverage its recent funding to forge strategic partnerships, enhance product development, and expand its merchant base within the web3 sector. The company's focus on simplifying crypto payments and providing user-friendly solutions positions it well to capitalize on the growing adoption of digital currencies and the increasing demand for efficient payment platforms.
Contact Information
- Website: www.boomfi.xyz
- Social Media:
- Twitter: BoomFi Twitter
- LinkedIn: BoomFi LinkedIn
- Headquarters: London, United Kingdom
