- Cion Digital recently announced that it has raised $ 12 million in seed funding. These are the details.
Cion Digital – the developers of the first enterprise SaaS blockchain orchestration platform – recently announced the closing of a $ 12 million seed fundraiser. The capital will be used to expand R&D resources and accelerate the deployment of cryptographic financing and payment solutions tailored to financial services companies (lenders, RIAs, banks and neobanks) and wholesale bill retailers (automobile, motorhome / marine, jewelry and luxury goods) and to expand the capabilities of the company’s proprietary Blockchain orchestration platform for other industries.
The funding round was led by Green Visor Capital and 645 Ventures. And Cota Capital, Epic Ventures, Hourglass Capital Partners, BAT Ventures, Greycroft and Ulu Ventures also participated.
As the adoption of cryptocurrency becomes more mainstream, traditional businesses and financial institutions dependent on existing technology infrastructure still face significant challenges in adapting to the complexities of this digital asset industry. rapidly changing. And as an innovator in the FinTech and blockchain space, Cion Digital’s integrated suite of applications and services provides businesses with rapid access to all the connectivity, infrastructure and support needed to rapidly deploy payments. and real-time blockchain-based funding.
The platform’s blockchain interoperability simplifies the complex world of crypto (custody, liquidity, settlement, compliance, off-chain optimization, etc.), giving businesses a competitive advantage and the ability to scale their crypto offerings. traditional financing quickly and transparently, while minimizing development costs, infrastructure complexity and time to market.
“We are delighted to partner with this uniquely qualified team on their mission to help businesses grow by being able to seamlessly connect to the evolving digital asset economy. “
– Simon Yoo, Founder and Managing Partner of Green Visor Capital
“Cion Digital co-founders Snehal Fulzele, Fred Brothers and Arpit Agrawal have extensive knowledge and experience in both traditional finance and the rapidly growing blockchain and crypto sectors, as well as backgrounds in creating successful FinTech companies. We are very impressed with the platform’s technological innovations that will allow traditional businesses to deploy and benefit from crypto-based payment solutions that were previously unavailable to them. “
– Nnamdi Okike, co-founder and director of Partner 645 Ventures
“Established companies are struggling to understand crypto and decide when and how to embrace it. It is a significant challenge to integrate crypto quickly and efficiently into their legacy products and services. Without Cion Digital’s Blockchain orchestration platform, existing businesses can take months or years – and spend significant upfront investments – to gain knowledge, acquire resources, and start delivering crypto solutions. Since the crypto ecosystem evolves so quickly, without the right help and expertise, it’s like trying to hit a moving target. “
– Fred Brothers, co-founder and president of Cion Digital
“It has always been a passion for me to be able to make financial services more inclusive. Connecting traditional businesses to blockchain technology allows us to do this by creating a way for people with assets held outside of traditional banking relationships to grow their portfolios and borrow against those assets while they are not. otherwise would not be able to.
– Snehal Fulzele, Founder and CEO of Cion Digital