A number of big investors want to back Securitize and its compliance program for digitizing securities using blockchain technology.
The company said Monday it raised $12.75 million in a funding round led by Blockchain Capital, whose partner, Brad Stephens, will join Securitize’s board of directors, according to Crowdfund Insider.
The other investors include, among others, Coinbase Ventures, Global Brain, NXTP, OK Blockchain Capital and Xpring at Ripple. Co-founder and CEO Carlos Domingo told CoinDesk Securitize was looking to add “knowledgeable investors” in preparation for its security token offering. Securitize was also looking to ensure it has ready access to capital and meets compliance requirements.
Securitize’s software platform allows users to issue and manage security tokens, including dividends, distributions and share buybacks. It allows for trading in multiple markets simultaneously. Read more here.