Securrency Raises $30 Million in Series B Funding Round
With markets booming, and institutional interest rising, Securrency has just announced the timely procurement of $30 million. As a blockchain service provider, Securrency is looking to strike while the iron is hot as it works to establish itself within the sector. With fresh capital in-hand, these plans just received a major boost.
What is the Plan?
Moving forward, Securrency has identified multiple areas in which it is working. These include developing solutions geared towards DeFi, bridging traditional finance with the digital age, and expansion on a global scale.
Securrency CEO, Dan Doney, states, “In the coming year, we will continue to work closely with our strategic partners and to, simultaneously, deliver compliant decentralized finance (DeFi) and other powerful products into the market in keeping with our mission to optimize financial logistics.”
A region which is specifically highlighted for continued expansion, is the United Arab Emirates. This aligns with a past partnership, which already saw Securrency establish a presence in the neighbouring region of Saudi Arabia.
Details of the Raise
This particular raise, which was a Series B, came in to the tune of $30 million. The following are a few companies which headlined this funding effort.
- WisdomTree Investments
- State Street
- Abu Dhabi Catalyst Partners
- U.S. Bank
Upon announcing the completion of its Series B, representatives from each Securrency and headline investor WisdomTree, took the time to comment.
Dan Doney, CEO of Securrency, states,
“We have focused from our inception on financial logistics and have created a truly institutional-grade financial services ecosystem centered on automated compliance to support the issuance, exchange, administration, and servicing of digital assets. Blockchain technology will be a vital part of the interconnected and interoperable future of global finance, but a truly viable system must connect the full panoply of financial services and systems to digital assets infrastructure. Securrency’s core platform will be the rails on which all future value can move securely with real-time settlement and will serve as a bridge linking traditionally disconnected financial markets and ecosystems to enhance speed and efficiency and to drive down costs.”
Jonathan Steinberg, CEO of WisdomTree, states,
“We have a high strategic threshold for deploying our firm’s balance sheet. We led Securrency’s Series A round and are excited to be a meaningful participant in their Series B round. We believe the Securrency team is uniquely suited to lead in blockchain based fintech and regtech going forward. Our ongoing financial commitment reaffirms the strength of our support and a partnership in shaping the future of financial services with Securrency and our fellow investors.”
The levels of funding seen in the aforementioned Series B should not be surprising. Roughly one year ago, Securrency successfully completed its Series A – raising over $17 million in the process.
Notably, this previous raise was also headlined by WisdomTree Investments. With a desire to return for a Series B, the investment firm is obviously impressed with what Securrency has been working towards this past year.
Speaking with Dan
In an effort to learn more about Securrency, we have in the past interviewed its CEO, Dan Doney. In this conversation, Doney touches on how Securrency came to be, and where it plans to go in the future. The interview can be found HERE.