US-based distributed ledger developer Axoni closed an $18m series A round backed by media and information firm Thomson Reuters and several financial services firms yesterday.
Bank Wells Fargo and Euclid Opportunities, the strategic investment arm of trading information and services provider Icap, co-led the round, which boosted Axoni’s total funding to $20m.
The round was filled out by financial services firms Goldman Sachs and JP Morgan, as well as Andreessen Horowitz, FinTech Collective, F-Prime Capital Partners and Digital Currency Group.
Founded in 2013, Axoni provides distributed ledger technology that enables financial services operators to build out blockchain software for processes such as the optimisation of data management for credit default swaps, equity swaps and foreign exchange derivatives.
Richard Kerschner, chief corporate development officer of Icap Post Trade, Risk and Information Services, said: “Since we started working with Axoni over a year ago, we have been impressed with their knowledge of financial services, as well as their expertise with how distributed ledger technology can intersect with other evolving technologies.
“They have quietly built their credibility with key financial players and have emerged as one of the leaders in this rapidly evolving space.”