Newity completes $11 million financing and plans to promote small business loans on the blockchain

Newity, a fintech company, has raised $11 million in a strategic funding round and plans to transfer small business loans to blockchain. This round of financing is led by CMT Digital, a subsidiary of CMT Group, with other participants including private and institutional investors. This is Newity's first round of financing, which will start at the end of 2024 and end in December 2025, using a future equity simple agreement (SAFE) structure. Newity has not disclosed its valuation and whether investors have obtained board or advisory seats.