Blockchain stock market startup Funderbeam raises $2.6 million

Baozou Comment : Funderbeam, a startup in London, UK, is another blockchain startup dedicated to capital market optimization. In order to achieve the company's long-term goals, it launched a new round of financing and finally raised $2.6 million. This financing received support from existing shareholders and new companies, and received attention from Nasdaq and others.

Translation: Annie_Xu

Funderbeam, a London-based startup that is building a next-generation stock market using blockchain, has raised $2.6 million in a new round of funding.

Thomson Reuters, venture capital firms Draper Associates and IQ Capital all participated in the round. Existing shareholder 3TS Capital Partners and several angel investors also participated in the round.

The startup’s use case has received widespread attention from market newcomers and traditional companies such as Nasdaq and the Australian Securities Exchange, and has attracted millions of dollars in venture capital and internal funds to change the way stocks are traded.

Kaidi Ruusalepp

Funderbeam founder and CEO Kaidi Ruusalepp was a senior executive at Nasdaq OMX in Tallinn, Estonia; he also served as a member of the institution's management committee from 2007 to 2011.

"Funderbeam combines the three elements of data, capital and transactions, representing the future of exchanges; and it relies on blockchain technology and cross-border services."

Users of the platform who participate in the investment can purchase the company's tokens, which can then be traded on the company's website's order book. Currently, the Funderbeam marketplace is providing financing tools for three startups.