Cion Digital, the first SaaS blockchain orchestration platform, has closed a $12m seed funding round led by Green Visor Capital and 645 Ventures.
Also participating in the seed round were Cota Capital, Epic Ventures, Hourglass Capital Partners, Greycroft, Ulu Ventures and BAT Ventures.
Founded in 2021, Cion Digital has developed a blockchain orchestration platform allows institutions to build innovative finance solutions by quickly and seamlessly connecting their systems with decentralised finance systems.
According to Cion, the seed capital will be used to expand R&D resources and accelerate the rollout of crypto financing and payment solutions tailored for financial services companies and big ticket retailers. The newly raised funding will also help expand the capabilities of the company’s blockchain orchestration platform other industries.
Cion Digital CEO and founder Snehal Fulzele said, “It has always been a passion of mine to be able to make financial services more inclusive. Connecting traditional business to blockchain technology allows us to do this by creating a way for people with assets held outside of traditional banking relationships to grow their portfolios and borrow against those assets when they otherwise would be unable to.”
Cion Digital co-founder and president Fred Brothers said, “Established businesses are struggling to understand crypto and decide when and how to embrace it. It’s a significant challenge to quickly and effectively embed crypto in their legacy products and services.
“Without Cion Digital’s Blockchain Orchestration Platform, existing businesses can take months or years – and spend significant up-front investment – to gain knowledge, acquire resources, and begin delivering crypto solutions. Since the crypto ecosystem is evolving so fast, without the right help and expertise it’s like trying to hit a moving target.”
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