Arlington, Virginia-based Securrency has raised a $17.65 million Series A funding round.
Founded in 2015, the company develops institutional-grade, blockchain-based financial and regulatory tech. Securrency’s flagship, patent-pending tech provides multi-jurisdictional compliance to financial services providers “to facilitate the issuance, trading and servicing of digital securities and other digital assets,” a press release states.
This round was led by New York-based WisdomTree Investments with participation from the Abu Dhabi Investment Office, Monex Group, RRE Ventures, Strawberry Creek Ventures and Panthera Capital Investments. Securrency reports that it plans to use the fresh funding for platform development, to build out its operational structure and to add more strategic partners and customers to its portfolio.
“WisdomTree has a well-deserved reputation as an innovator within financial services, and we are thrilled to have them as our lead investor,” Securrency CEO Dan Doney said in a statement. “Our partnership with WisdomTree will allow us to demonstrate unique features of our technology, specifically our Compliance Aware Token framework and multi-ledger capabilities.”
WisdomTree decided to invest in Securrency after conducting a multi-year review of the blockchain tech landscape.
“Using the technology, we believe we have identified areas for exciting innovation within the ETF [exchange-traded fund] ecosystem and in financial services more broadly, all with a focus on meeting the highest standards of regulation,” WisdomTree Founder and CEO Jonathan Steinberg said.
Securrency also manages an operation in the United Arab Emirates within its tech-focused financial center, the Abu Dhabi Global Market. Due to its presence there, the company was able to land funding from the Abu Dhabi Investment Office’s venture fund.
The company has raised $33 million to date, according to Crunchbase, which includes a $7 million Series A last summer and a few pre-seed funding rounds in previous years.
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