Origin Protocol nets another $6.6m in funding, months after previous round

Decentralised sharing economy network developer Origin Protocol has received $6.6m through a funding round via CoinList Capital.

This investment saw ‘hundreds of new investors’ which span over 50 countries. It was raised through CoinList, an ecosystem designed to help cryptocurrency startups complete compliant fundraising from accredited investors.

The round of funding comes just months after the company raised $28.5m in a strategic round which was supported by 190 different investors. Some of the backers included Foundation Capital, BlockTower Capital, Turing Capital, 1kx fund, FBG, Danhua Capital, and KBW Ventures, among others.

Origin decided to raise funding via different rounds and methods, so it could spread the tokens to investors globally, which will help to support Origin’s sharing economy mission for local communities.

Other reasons were to ensure one investor held too big of a percentage of tokens and to provide all size of investors a chance to take part.

To date, the company has only been able to accept funds from accredited investors, due to the strict rules in the US.

Origin Protocol is building a solution for online marketplaces in the sharing economy on the Ethereum blockchain. The platform has already had commitments from 45 companies that intend to use the technology to build sharing economy applications, according to the Origin.

Its technology makes it easier for sellers to create and manage listings, as well as helping buyers and sellers to connect, browse listings, make bookings, and leave ratings, among others.

Capital from the round will be used to expand its team, hire more staff, improve its decentralised app and onboard more partners.

Copyright © 2018 FinTech Global

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