Axoni, the leading blockchain based financial technology company has raised a total of $18 million in funding. The company completed its Series A fundraising round which saw participation from some of the leading names in the financial industry.
In its latest update, the company has announced the list of investors which includes Wells Fargo, Euclid Opportunities, ICAP Fintech Investments, Goldman Sachs, JP Morgan, Thomson Reuters, Andreessen Horowitz, FinTech Collective, F-Prime Capital Partners and Digital Currency Group. The total funds raised by Axoni now stands at $20 million.
The CEO of Axoni, Greg Schvey was quoted in the company’s release saying,
“We are delighted to have strategic support from global leaders in financial services. The changes already underway based on distributed ledger technology will have a profoundly positive impact on the industry. Axoni is excited to help drive that progress alongside our investors and clients.”
The investments made by Goldman Sachs and JP Morgan are of special interest as both financial institutions recently exited from the R3 Global Blockchain Consortium. Incidentally, Axoni is among R3 Consortium’s strategic partners, which leads one to believe that the two banking institutions are still indirectly interested in the consortium’s research and development.
Axoni has developed and tested its own proprietary smart contract technology for capital markets. The technology has been appreciated by the likes of Wells Fargo Securities and ICAP. The solutions developed by the company can be implemented for a range of financial services including post-trade data management for credit default swaps, equity swaps, and forex derivatives. Some of its applications have already been tested successfully in association with multiple banking institutions and financial infrastructure providers.
The company currently figures among the top few players who are capable of moving the industry towards large scale blockchain implementation. The strategic partnerships and collaborations with other fintech companies, banks, and financial institutions will help accelerate the process.
Ref & Image: Axoni