3 Big Firms invested $ 14M in this blockchain startup

3 Big Firms invested $ 14M in this blockchain startup

Investment Startups
September 18, 2018 Editor's Desk
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The blockchain has gobbled up on investment from every sector of the financial world. The whole world is focusing on the blockchain with close attention and trying to bring it into mainstream society. The blockchain has contributors from every part of the globe. It seems that the tsunami of the blockchain and its applications would
Crosslend blockchain blockchain startup

The blockchain has gobbled up on investment from every sector of the financial world. The whole world is focusing on the blockchain with close attention and trying to bring it into mainstream society.

The blockchain has contributors from every part of the globe. It seems that the tsunami of the blockchain and its applications would definitely, encapsulate the world.

Different sectors are coming together and investing in future perspectives of the blockchain, to support innovations and developments in the latent state of the blockchain technology.

Recently, the Dutch bank ABN Amro, Earlybird, and Berlin-based fintech startup solarisBank have invested in blockchain startup CrossLend. These companies took part in a $14million funding round.

What is CrossLend about?

Founded as an online marketplace for bonds and other types of loans, CrossLend came into existence in 2014. The company aims to use the distributed ledger technology (DLT) to develop a European debt exchange. CrossLend holds specifications in debt securitization, enabling users to create a bond portfolio while offering new financing channels to European MSMEs.

The giant investors

ABN Amro and solarisBank aim to improve their corporate financing operations by amalgamating CrossLend platform. ABN Amro is not new with the blockchain. Earlier in June ABM Amro clearing, along with EuroCPP, Euroclear, and Nasdaq, had succeeded in a blockchain trial focused on managing collaterals in margin calls.

While, Christian Nagel, a partner at VC firm Earlybird, was noted as saying that, “We strongly believe that their plan to tokenize debt items and hence introduce blockchain-based settlements will lead to more transparent loan books and at the same time more efficient debt capital markets.” He further commented, “Global borrowers, regardless if they are SMEs or direct consumers, will benefit as markets will become more liquid. Billions of additional capital for SME financing could be unleashed – solving one of the major global issues in financial markets.”

Vision of CEO of CrossLend

The CEO of CrossLend, Oliver Schimek believes that the getting investment from such companies encourages expansion and widens customer base.

He said in his statement that, “Our aim is to make the whole international lending ecosystem more efficient, more transparent and more profitable. And to make sure that we serve both banks and entrepreneurs – a win-win.”

The vision of Oliver Schimek empowers innovation and transparency. These blockchain platforms assure an efficient and transparent future for our society. It seems that nothing can stop the flow of investment towards the great innovation that blockchain is.

Blockchain Magazine is an independent platform mainly focused on news and stories related to blockchain and other decentralized technologies. We are committed to deliver and present a reliable and true picture of blockchain framework.

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