Blockchain Startup Coinfirm receive more funding to expand and further build services and features onto their platform. With an investment of $700k from Luma Ventures already secured, Coinfirm has opened the current round to other investors.
“We’re growing at a very fast rate and need to scale up quickly to continue to lead and expand on the global market. Luma brings not only a valuable VC investor but also a synergistic one that brings many benefits to the table and we’re looking to bring in co-investors that provide the same dynamic. They give us a new set of extensive experience, network, and assets in tech and financial ecosystems as well as a partner who can assist us on in our further development from the ground up,” said Pawel Kuskowski, Co-Founder and CEO of Coinfirm.
“Coinfirm’s team convinced us by showing their in-depth industry expertise, passion and determination to realize their ambitious long-term plan. We are confident that with our support they will secure their leading position in the Blockchain AML risk and compliance space. This is an important investment for Luma as it allows us to play a strategic role in the imminent transformation of the FinTech sector,” said Tomasz Cichowicz, Partner at Luma Ventures.
The startup has been on a roll lately and is looking to add some extra fuel in their engine with a capital injection. As the Blockchain ecosystem continues to grow exponentially and the regtech market is expected to rise to $100b over the next few years, Coinfirm has positioned itself to be an important player in both spaces.
Their Blockchain AML risk and compliance platform solves one of the largest roadblocks in cryptocurrency and Blockchain adoption and does so in a new and innovative way. By streamlining the compliance process and taking it to near-automation with big data analysis and machine learning Coinfirm’s platform not only significantly reduces costs and time spent but also maximizes efficiency and changes how the compliance landscape has operated until now.
With a wide range of clients and partners already under their belt ranging from Bisnode to Dash, Coinfirm provides actionable data that is valuable for many different kinds of entities and industries whether cryptocurrency, banking or business intelligence.
Recently Coinfirm has been having a lot of success dealing with larger and more traditional entities as they began collaborating and partnering with the likes of MIT Enterprise Forum, the largest Polish bank PKO BP and PWC’s Startup Collider. A few more relationships with some significant companies are supposed to appear soon and their monthly Blockchain event and networking ecosystem Warsaw Block recently just gained a few partners as well including Cointelegraph and Cointelegraph Events.
The current funding round is being led by Luma Investment, a CEE based fund comprised of veterans and entrepreneurs from multiple industries. Although not widely known in the US or UK, Luma investment has quietly built itself into one of the largest private investment funds in the region with over with over $1.1b in transactions to their name already. Although already invested in many innovative technologies and industries, Coinfirm marks Luma’s big jump into the Blockchain technology space. With their technological development operations and Blockchain lab centered in Warsaw, the London based Coinfirm gets an institutional investor that can directly contribute on a regional and international level.
With multiple new clients, partners and products and services in the pipeline, Coinfirm has set itself up to have an exciting year. With that said, 2017 promises to be an exciting year for the Blockchain and cryptocurrency market especially due to such solutions as Coinfirm’s compliance platform as they will add the structure and cohesion needed for further commercial and mass adoption.
A Blockchain technology company with a specific focus on Compliance as a Service, Coinfirm built the first Blockchain risk and compliance platform as well as the first Blockchain lab in Central Europe. Coinfirm’s platform brings transparency and security to Blockchain transactions while solving the AML/CTF/Sanctions and counterparty risk management problem. Blockchain and digital currency agnostic, the Coinfirm platform is utilizable for many potential applications and lays a foundation for the adoption of digital currencies and Blockchain that ensures parties are compliant and operate in a safe environment.
Luma Ventures is an IT focused VC fund under management of Luma Investment S.A. Luma invests in start-ups that build their competitive advantage on data-driven solutions that fall into categories like Big Data/Data Science, Fintech, Blockchain, Automation of Knowledge Work, Enterprise Software and IoT. The funds team consists of experienced managers, business practitioners, former entrepreneurs and functional specialists of the highest class with Luma’s partners having professional background in the financial sector. The Luma team brings with it a track record of over $1.1B in total value of carried out transactions that constitutes for a unique non-financial value that Luma provides to its investments. .
- OpenLedger’s Apptrade (www.apptrade.io), the platform creating “Kickstarter for Apps on the Blockchain”, has received a $100,000 USD boost from OpenLedger ApS, the world’s first blockchain powered conglomerate. Powered by the digital token APPX, Apptrade creates portfolios, or groups, of apps, where if one of those apps becomes the next Instagram or Angry Birds, then the value of the portfolio rises. Ronny Boesing, CEO of OpenLedger ApS, explained that Apptrade’s initial token offering (ITO) changed its valuation in the middle of its crowd sale as an immediate response to the result of its preliminary offering. Boesing said, “The Apptrade platform is much too important to not succeed, and it was clear that we needed to adjust the valuation to make it more appealing to anyone deciding to participate. In addition, we wanted to show our belief in this project, and felt that there was no better way to show this than putting our money where our mouth is. OpenLedger will be adding a total of $100 000 USD to the Crowdsale over the next 7 days.” The minimum fundraising goal is $1M USD with a cap of $5M USD. With a total of 8.25M APPX tokens on offer, OpenLedger’s Apptrade ApS will back these tokens with 20% of the future revenue from the Apptrade platform, and any unsold tokens will therefore be distributed proportionally to all participants. All early bird participants, as well new participants, will receive the extra tokens according to the published Stage 1 structure, plus benefit from the additional tokens to be divided. Daniel Pineda, Founder of Apptrade says, “After listening carefully to feedback from public and private supporters, and with great consideration, we decided to update our master token valuation. We firmly believe that our platform, built on the ecosystem of OpenLedger and powerful BitShares financial trading technology, is a strong Blockchain project that will be a success for years to come. We feel that this is the right action to ensure a satisfactory outcome for all.” Apptrade’s final valuation is going to be based on the amount raised, whether $1M USD as its threshold or money back guarantee, or the maximum of $5M USD. The valuation of the Apptrade platform will be determined on what is raised. The deadline according to the escrow agreement is set to end on April 30 2017. Boesing continued, “This approach and change of valuation resulted from requests from within the community, and we hope to accommodate many more participants. But one thing is clear to all of the Early Birds – this is your lucky day!” - March 27, 2017
- Factom Launches Revolutionary Blockchain Suite of Mortgage Products - March 24, 2017
- Qtum Shatters ICO Records Raising $15.6 Million - March 24, 2017
- Blockchain Startup Sphre Announces ICO (Crowdsale) for Digital Identity Platform Called Air - March 22, 2017
- Kestrel sign ups to MTI’s blockchain driven solutions to deliver global growth - March 22, 2017
- The G20 Countries Should Investigate Blockchain Technologies to Build an Inclusive, Transparent, and Accountable Digital Economy for All - March 21, 2017
- Particl, a Distributed Marketplace Rethinking Privacy’s Future – Announced Seed Round - March 21, 2017
- ZrCoin To Do Initial Coin Offering (ICO) to Crowdfunds Commodities Option - March 21, 2017
- Canada’s Scotiabank and AlphaPoint Announce Successful Blockchain Trial - March 21, 2017
- Canada’s SecureKey taps IBM to put identity on the Blockchain - March 21, 2017
- Blockchain Startup Humaniq Launches London Office - March 21, 2017
- QRL Recruits Testers for High Security Quantum-Resistant Blockchain - March 20, 2017
- Blockchain of Things, Inc. Releases Paw Advanced REST Client Integration - March 19, 2017
- ConsenSys Named Official Blockchain City Advisor for the City of Dubai - March 16, 2017
- Bloq Launches BloqLabs to Connect Enterprises with Open Source Blockchain Innovations - March 16, 2017
- Multi-Million Dollar Research Institute Launched to Explore Blockchain Use Cases, Opportunities and Challenges - March 16, 2017
- Chamber of Digital Commerce Forms the Blockchain Intellectual Property Council - March 16, 2017
- Orebits & Symbiont Deploy Blockchain Technology to Digitize Gold Ownership - March 16, 2017
- Blockchain Capital to Raise its Third Fund via a Digital Token Offering in The First Liquidity-enhanced Venture Capital Fund - March 16, 2017
- The Exscudo Channels App Is A New Mobile Wallet And Secure Messenger - March 14, 2017
- Dao.Casino – Decentralising the Gambling Economy - March 14, 2017
- Chain of Points Adds American Internet Entrepreneur Jeff Pulver to Board of Advisors - March 14, 2017
- Nasdaq Releases NYIAX – A Blockchain-Enabled, Cloud-Based Media Trading Platform - March 14, 2017
- Lunyr Announces Crowdsale for the First Decentralized World Knowledge Base on Ethereum - March 14, 2017
- Coinsource, World’s largest bitcoin ATM network, Completes Historic Bulk Installation on US West Coast with 35 ATMs - March 14, 2017
- Bitwala Offers Bitcoin to M-Pesa Services in Kenya, Nigeria, Uganda, and Tanzania - March 12, 2017
- US SEC Regulators Reject Bitcoin ETF, Price Plunges, Recovers - March 11, 2017
- Google’s DeepMind plans Blockchain Health Record Tracking for Hospitals - March 10, 2017
- Coalition Forms to Address Digital Asset Taxation Uncertainty - March 10, 2017
- Livecoin, the Fourth Largest Altcoin Exchange Is Now Available in Eight Languages - March 9, 2017
- Australia Releases Blockchain Standards Roadmap - March 6, 2017
- Hyperledger Fabric Graduates with Honours – It’s Live! - March 4, 2017
- TaaS, the First Fully Transparent Closed End Fund Dedicated to Blockchain Assets, Adds International Banking and Marketing Experts as Advisors - March 2, 2017
- Kraken Acquires Cryptowatch and Launches New Trading Platform - March 1, 2017
- Switzerland’s Crypto Valley Association Founded To Build World’s Leading Blockchain and Cryptographic Ecosystem - March 1, 2017
- Massive Launch by Blockchain Industry for New Enterprise Ethereum Alliance - March 1, 2017
- Monax Joins Hyperledger Project, Brings Ethereum Technology - February 28, 2017
- Chain of Points Adds Internet Pioneer and iPayYou Founder Gene Kavner to Board of Advisors - February 27, 2017
- Chamber of Digital Commerce and Structured Finance Industry Group Partner to bring Blockchain to Securitization - February 27, 2017
- Blockchain Startup Bloq Acquires Blockchain Analytics Pioneer Skry - February 27, 2017
- Edgeless.io Launches its ICO to become the first fully transparent Casino, Offering 0% Edge - February 27, 2017
- Storj Labs Raises $3 Million in Seed Funding - February 26, 2017
- Northern Trust And IBM Pioneer Use Of Blockchain Technology To Help Transform Private Equity Administration - February 26, 2017
- 0x – An Open Protocol for Decentralized Exchange on the Ethereum Blockchain - February 26, 2017
- Global Blockchain Project FERMAT Announces Significant Alpha Release for the “Internet of People” - February 26, 2017
- Blockchain Startup Peerplays Raises $4m Before ICO Even Kicks Off - February 26, 2017
- Numerai Launches Cryptocurrency and New Hedge Fund Built By Data Scientist Network - February 26, 2017
- Disrupt the VC Industry? Brock Pierce and Blockchain Capital to Launch Own Cryptocurrency and ICO - February 26, 2017
- SoftBank, Sprint and TBCASoft Partner in Blockchain Technology for Telecom Carriers - February 25, 2017
- Lisk Introduces New Blockchain Technology Update - February 25, 2017