BY CNA Team - November 27, 2018
Securitize raises US$12.75mil in Series A funding
Securitize, a compliance platform for issuing and managing compliant digitized securities on the blockchain, has raised US$12.75mil in Series A funding led by San Francisco-based Blockchain Capital.
Other investors in the funding round included Coinbase Ventures, crypto exchange Coinbase’s venture arm, Tokyo-based Global Brain, NXTP, OK Blockchain Capital, and Ripple Labs’ venture arm Xpring.
Blockchain Capital’s cofounder/managing partner Brad Stephens will be joining Securitize’s board of directors.
Securitize cofounder/CEO Carlos Domingo says in a press statement that the investors will not only provide support but will be instrumental as the startup prepares to tokenise its digital securities offering in 2019.
He estimates the digital securities market to be worth US$7 trillion annually.
Meanwhile, Stephens says in the same statement that the startup’s real-time compliance solution solves a critical need for the investment firm’s BCAP security token.
“I am excited to be both a client and an investor, and help them lead the emergence of the security token industry,” he adds.
The startup has helped in the digital security token issuances of venture capital firms 22x and SPiCE. Domingo is also a cofounder of SPiCe.
Global Brain will assist Securitize with business development and marketing efforts in Asia while Buenos Aires-based NXTP will help the startup to expand in Latin America.
Securitize’s other strategic investors include the World Economic Forum’s former managing director and blockchain professor, Donna Redel, and former KKR partner and crypto expert John Pfeffer.
Image courtesy of Securitize website.