SettleMint, a Belgium-based provider of Blockchain Platform as a service solution, raised $16 million in Series A funding. Molten Ventures and OTB led this latest funding round, with participation from Fujitsu Ventures, Allusion, Bloccelerate, and existing investor Medici Ventures, L.P.

According to TechCrunch, the newly-raised capital will be used to improve its platform to meet the requirements of its clients by strengthening further its low-code solution. The new funding will also be used to boost its presence in Europe, MEA, India, and Singapore, and accelerate its expansion program in the Japanese market.

Founded in 2016, based in Louvain, Belgium, SettleMint is a low-code platform for blockchain application development that empowers engineering teams to build, integrate and launch applications on web3 infrastructure. The Belgian startup provides a deployment environment and development, a middleware environment, and an integration studio, providing developers with the building blocks required to build full-stack applications.

SettleMint provides the world’s most complete high-performance low-code Web3 development platform. The company’s low code solution allows developers to deliver blockchain applications within a couple of weeks. The low code solution includes a suite of tools, frameworks, templates, and APIs that enable any software developer to build new Blockchain-based applications or integrate Blockchain functionalities into existing solutions.

In addition to its Belgium office, the Blockchain Platform-as-a-Service company also operates offices in United Arab Emirates, Saudi Arabia, India, and Singapore.