Retail investment platform Republic has netted $12m in funding to support the tokenisation of the platform.
Binance Labs and NGC ECO Fund led the round, which also saw contributions coming from East Chain Co, Oyster Ventures, FBG Capital, Hazoor Capital, ZK Capital, and ZhenFund, among others.
Launched in 2016, Republic is a global retail investing platform that lets consumers invest into startups and blockchain projects. Users can invest into private startups from as little as $10, while companies can raise up to $1m.
Capital from the round will be used to support the tokenisation of the Republic platform, as well as the creation of its own security token.
Late last year, Republic started to curate and offer token sales through its Republic Crypto, which provided access to the market for both accredited and non-accredited investors. The tokenisation program will incentivise and engage all participants on the platform with users being introduced to the Republic token which will have economic rights and uses.
The company is also looking to tokenise all financial products on the platform in order to boost liquidity and transferability.
Republic CEO Kendrick Nguyen said, “The global crypto fever has moved the needle forward almost overnight, but it has also introduced new regulatory and business complexities. We believe cross-border collaboration is necessary to navigate these complexities and help the industry grow quickly, but responsibly.
“Republic is delighted to have influential partners and investors from different regions of the world join forces on this shared vision.”
Last year, the company raised an undisclosed seed funding round which received backing from US firms including Oyster Ventures, AngelList, RenGen, NextGen Venture Partners, and Grand Central Tech.
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