lavaproov

Lavaproov is an Australian-based fintech company that launched in 2021 with the goal of simplifying micro‑transaction payments for online content platforms. The company claims to use a proprietary blockchain layer called the Lavaproov Protocol, which is designed to reduce transaction fees and improve confirmation speed compared to traditional payment gateways. The firm’s headquarters are located in Sydney, with additional offices in Melbourne and Singapore.

The company’s flagship product, Lavaproov Pay, offers APIs that allow developers to embed tipping, subscription, and in‑app purchase functionality directly into mobile and web applications. According to company statements, Lavaproov Pay supports multiple fiat currencies as well as Bitcoin and Ethereum, and claims to achieve settlement times of under 30 seconds for most transactions. In May 2022, Lavaproov announced a partnership with the Australian media outlet News Network to pilot its tipping system on news articles. The pilot reportedly increased the average per‑article tip by 18% over a three‑month period.

In June 2023, Lavaproov raised a $12 million Series A round led by Australian venture capital firm Mureye Capital, with participation from GlobalPay Ventures. The funding round was aimed at expanding its service to Latin American and Southeast Asian markets. The company also announced plans to develop a mobile wallet that includes a loyalty rewards feature tied to the Lavaproov Protocol.

Critics have raised concerns about potential privacy issues associated with the proprietary blockchain data structure, citing a lack of third‑party audits. Despite these concerns, Lavaproov has received an industry award in 2024 for Innovation in FinTech from the Australian Digital Innovation Association.