Over $1M in Pre-Seed Funding Raised to Build Permissioned Financial Execution Infrastructure
SAN FRANCISCO, Feb. 26, 2026 /PRNewswire/ — Sumvin, Inc. formally launches today with a mission to bring permissioned AI-driven money management to the masses. The company has raised over $1 million in an initial pre-seed round and is currently raising additional capital as it builds toward a Q2 beta launch.
Consumer finance remains fragmented and manual. People juggle multiple banks, cards, subscriptions, savings accounts and investment platforms, each operating in isolation with their own apps. As financial life becomes more complex, the administrative burden for users continues to increase.
Sumvin is developing an AI-powered financial assistant designed to make managing personal finances easier. Rather than simply providing insights or recommendations, the platform allows users to set goals, preferences and limits, and then executes tasks within those parameters. That may include allocating savings automatically, adjusting spending patterns, or handling selected financial and commerce actions without repeated manual input.
At the core of the Sumvin platform is a reusable digital credential layer that enables the system to securely act on behalf of verified (KYC’d) users across services. This credential is cryptographically anchored and portable, allowing AI agents to prove who they represent and what they are authorized to do. The result is structured financial execution without repeated onboarding, fragmented identity checks, or uncontrolled autonomy.
Sumvin is being built on Sei Network, an open-source, high performance blockchain, delivering sub-second finality, near-zero transaction costs and native support for gasless interactions, making it purpose-built for the kind of high-frequency agent-driven execution Sumvin requires. The Sei Development Foundation is collaborating with Sumvin to support their development of key infrastructure components including privacy-preserving transaction infrastructure, on-chain identity primitives and programmable authorisation frameworks designed for AI-agent finance.
Sumvin’s approach is not to replace existing financial systems, but to bridge blockchain and traditional infrastructure into a unified execution layer. In Sumvin’s view, the future of finance will be hybrid by design – blockchain technology and interoperable with legacy financial systems.
“AI has reached the point where it can take structured, real-world actions – not just generate content,” said Simon Jones, CEO of Sumvin, Inc. “But for AI to act in consumer finance, it needs permission and verifiable infrastructure. Building on Sei allows us to design delegated finance from the ground up while remaining connected to the financial systems people rely on today.”
“Sei was built to power the next generation of high-performance financial applications like Sumvin,” said Gerald Gallagher, President at Sei Development Foundation. “Their approach to portable credentials and agent-driven execution represents a compelling example of how on-chain infrastructure can support real-world financial use cases.”
Sumvin is currently in discussions with consumer payments and technology partners ahead of its broader rollout.
Early access to the beta is available via a waitlist at sumvin.com.
NOTES TO EDITORS
About Sumvin
Sumvin is building an AI-powered financial assistant designed to execute tasks on behalf of users within explicit, user-defined boundaries. By combining structured automation with a portable digital credential framework, Sumvin enables secure, permissioned financial execution across services. The company’s mission is to reduce financial administration and move consumer finance from manual management toward trusted delegation. Learn more at sumvin.com.
About Sei Network
Sei is a blockchain designed for fast, cheap financial transactions, combining the network effects of Ethereum with the performance of Solana. Sei has processed more than five billion transactions across more than 95 million wallets and has become the #1 EVM chain by number of active users. The team is backed by top investors including Multicoin, Jump, Coinbase Ventures, and Circle Ventures—and includes talent from companies like Robinhood, Google, Coinbase, Databricks, Uber, and Goldman Sachs. Learn more at www.sei.io.
About Sei Development Foundation:
Sei Development Foundation is an independent US non-profit dedicated to the advancement and adoption of open source, permissionless protocols like Sei – the fastest EVM Layer-1 blockchain built to support world-scale decentralized applications. Through education, funding, and ecosystem support, the Foundation collaborates with a global community of builders and users to promote and expand the benefits of Sei and related projects. To learn more about Sei Development Foundation, visit www.seifdn.org.
FORWARD-LOOKING STATEMENTS:
This press release contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements relate to Sumvin, Inc. (“Sumvin”) and Parallel Virtual Machine Inc. d/b/a Sei Development Foundation (“SDF”) and their expected or anticipated future actions, product development, partnerships, fundraising, and business results. Forward-looking statements are often identified by words such as “may,” “could,” “will,” “expected,” or “planned.”
These forward-looking statements reflect expectations as of this press release’s date and are based on assumptions that may prove incorrect. Neither Sumvin nor SDF undertakes any obligation to update any forward-looking statements, except as required by law.
Important factors that could cause actual results to differ materially from expectations include: the ability to secure additional financing; the early stage of Sumvin’s product development and uncertainty of achieving stated timelines; the evolving and heavily regulated nature of AI-driven financial services and cryptocurrency; current or future laws or regulations applicable to AI agents, digital credentials, delegated financial execution, or blockchain-based infrastructure; inherent volatility and regulatory uncertainty in cryptocurrency and blockchain technology; Sumvin’s ability to establish partnerships with payments and technology providers; the availability and reliability of Sei Network infrastructure; market conditions and demand; competition in AI, fintech, and blockchain industries; the ability to attract and retain qualified personnel; security risks including cyber-attack, systems failure, or service disruption; and the ability to protect intellectual property rights.
This list is not exhaustive. Given the uncertainties involved, readers should not place undue reliance on forward-looking statements, as actual results may differ materially from those expressed or implied.
All information is provided as of the date of issuance and is subject to change without notice. This press release does not constitute investment, tax, or legal advice. Sumvin and SDF each reserve the right to amend or replace this information at any time without obligation to provide notice, except as required by law.
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SOURCE Sumvin, Inc
