US-based securities token developer Securitize received $48m on Monday in a series B round co-led by Morgan Stanley Tactical Value, a division within investment bank Morgan Stanley, and venture capital firm Blockchain Capital.
The round also featured NTT Data, a subsidiary of telecommunications firm NTT, as well as financial holding group Sumitomo Mitsui Trust Bank, financial transfer platform developer Ripple, Bitcoin wallet provider Ripio and Mouro Capital, the VC firm sponsored by financial services firm Santander.
The round was filled out by Spice VC, the tokenised VC fund from which Securitize was spun off, in addition to IDC Ventures, Migration Capital, Ava Lab, Borderless Capital and Global Brain.
Founded in 2017, Securitize provides a digital platform which enables businesses to issue and manage digital asset securities on the blockchain to facilitate dividends, token distribution and share buy-backs.
The company recently launched an asset management subsidiary, Securitize Capital, and two inaugural cryptocurrency yield funds. It said it has leveraged its digital platform to support more than 150 brands and 300,000 investors.
Pedro Teixeira, co-head of Morgan Stanley Tactical Value, will join Securitize’s board of directors in connection with the round.
Blockchain Capital led the $12.5m first tranche of Securitize’s series A round in 2018, investing with Ripple, cryptocurrency exchange Coinbase and Sony Financial Ventures, the VC arm of Sony’s financial services business, Sony Financial Holdings, as well as Global Brain.
The company received a $14m extension to the round from telecommunications firm KDDI’s Open Innovation Fund, real estate developer Mitsui Fudosan’s 31 Ventures vehicle, financial holding group Nomura and Mouro Capital predecessor Santander InnoVentures in September 2019.