Ternio, which creates a banking application software for digital assets, has closed its first crowdfunding campaign on $1m.
The capital raise, which was hosted on the Replublic.co, was backed by 3,890 investor.
A valuation cap was set at $15m and a minimum investment contribution was established as £100.
Ternio utilises blockchain infrastructure to give real-world utility to digital assets to connect traditional enterprise, FinTech and banking. Its white-label products leverage instant remittance and the benefits of operation on blockchain rails.
The goal of the company is to help blockchain and cryptocurrency become a part of everyday life.
With the fresh equity infusion, the company will move into new markets, launch new products and increase the size of its team.
Ternio co-founder and COO Ian Kane said, “Investor demand exceeded my expectation and Ternio’s equity round was quickly sold out. There are many savvy Republic investors who saw our vision, loved what we are building, and wanted to be part of our journey as we build the next great fintech platform using blockchain.”
Earlier in the year, the FinTech released its new FDIC-insured checking accounts and Crypto Back Rewards when using its in-house payment card solution BlockCard.
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