Libra, a US-based developer of financial software for the blockchain and cryptocurrency industry, closed a $7.8m series A round yesterday featuring cryptocurrency trader XBTO.
An undisclosed family office led the round with participation from seed-stage fund Liberty City Ventures, accelerator Boost VC and individual investor Lee Linden.
Founded in 2014, Libra provides financial software that automates accounting, audit and tax processes for blockchain and cryptocurrency companies. It will use the funding to continue developing its platform and release new applications.
The company previously raised $2m in seed funding across two led by Liberty City Ventures and Fenbushi Capital, respectively. The round led by Liberty City secured $500,000 in 2014.
Jake Benson, CEO of Libra, said: “We provide our customers three core components of value. First, a single on-ramp that connects to the many data sources within the ecosystem.
“Second, the real-time data processing engines and services required to continuously and automatically standardise and deliver accurate financial information.
“And third, blockchain-native software that is purpose-built for this industry by a team of engineers who have designed and delivered some of the most scalable and secure financial software platforms in the world.”