The website, formed by two brothers, Greg and Jeff Schvey, stems from a previous project they worked on called Genesis Block.
The investment is reported to have amounted to a whopping $2.8 million, lead by Andreessen Horowitz, and included other investors like SecondMarket and Bitcoin Investment Trust CEO Barry Silbert.
Devonshire Investors (which, according to CrunchBase is the private investment arm of Fidelity Investments) and FinTech Collective also participated in the funding round.
No valuation on the company has been announced, neither has the company’s sales figures (revenue is made by people who subscribe for TradeBlock’s information, of which not all is free, obviously).
This is the first time TradeBlock has received investment capital, and they even managed to receive just the amount they needed to continue expanding their services.
“We’re very fortunate that people understand and knew the vision,” said Greg Schvey to WSJ.
Going far beyond simply providing trading and market data, TradeBlock’s services could help inform businesses on other assets that could be traded over the block chain, such as securities and contracts.
“The kind of thing TradeBlock is providing is a prerequisite for smart contracts,” said Balaji Srinivasan, general partner at Andreessen Horowitz.
Should be interesting to see where this goes.