ICYMI funding round-up: Anfin, Cion Digital, D2X, KRM22, & Orenda Finance
At FinTech Futures, we know that it can be easy to let funding announcements slip you by in this fast-paced industry. That’s why we put together our weekly In Case You Missed It (ICYMI) funding round-up for you to get the latest funding news.
Cion Digital, a start-up from Texas, US, that claims to have developed “the first enterprise SaaS blockchain orchestration platform”, has closed a $12 million Seed capital raise.
The round was led by Green Visor Capital and 645 Ventures. Cota Capital, Epic Ventures, Hourglass Capital Partners, BAT Ventures, Greycroft and Ulu Ventures also participated.
Cion Digital says it will use the funding “to expand R&D resources and accelerate the crypto financing and payment solutions tailored for financial services companies and big-ticket retailers” as well as move into other industries.
It’s in the process of setting up an R&D centre in Pune, India, and says the recruits – who are being sourced from across India – will have “the permanent ability to work from home”.
“Established businesses are struggling to understand crypto and decide when and how to embrace it. It’s a significant challenge to quickly and effectively embed crypto in their legacy products and services”, says Fred Brothers, co-founder and president of Cion Digital.
“Without Cion Digital’s Blockchain Orchestration Platform, existing businesses can take months or years – and spend significant up-front investment – to gain knowledge, acquire resources, and begin delivering crypto solutions. Since the crypto ecosystem is evolving so fast, without the right help and expertise it’s like trying to hit a moving target.”
Vietnam-based Anfin has raised $1.2 million in a Seed round led by Goodwater Capital and returning investor Global Founders Capital (GFC).
New investor XA Network and another existing investor First Check Ventures also participated in the round.
Anfin’s proprietary trading platform enables real-time fractional share trading for retail investors.
The company was launched in June last year and employs 30 people. In October, it raised $510,000 from Global Founders Capital, First Check Ventures and R2 Venture Partners. The following month it raised another $125,000 from Y-Combinator.
In December, it inked an agreement with domestic brokerage firm Viet Tin Securities (VTSS) to expand its range of financial assets brokered on its platform as well as receive VTSS’s support to integrate and optimise its trading systems.
KRM22, a technology and software investment company that focuses on risk management for capital markets, has received a $6.35 million investment from Trading Technologies (TT), a global provider of trading software, infrastructure, and data solutions.
This is the first investment TT has made since its acquisition by 7RIDGE in December last year.
In addition, TT has entered into a distribution agreement to market and distribute KRM22 risk management products. The initial integrated risk service offering is anticipated to address pre-trade risk and will be available for TT clients to use in March.
D2X Group, a pan-European digital derivatives exchange, has raised €5 million in a Seed round, led by Tioga Capital Partners.
Flow Traders, Fortino Capital, Picus Capital, Kima Ventures, Jabre Capital Partners, Darley Technologies, and angel investors also participated in this round.
The company was founded in 2020 and is based in Amsterdam, the Netherlands.
D2X says it “bridges the gap between tech and traditional finance for the digital asset industry thanks to its regulatory-first approach, reliable trading interface and robust risk management”.
Orenda Finance has received an investment from Marc Moses, former group chief risk officer and executive director at HSBC, as part of the company’s Seed round, which is due to be closed in the coming weeks.
Moses will hold an equity stake in Orenda. He has also become the strategic advisor to CEO and co-founder, Joshua Vittori.
Orenda was set up in 2020 and is based in London, UK. It offers no code, end-to-end white label embedded financial services.
The company says Moses’ “knowledge and expertise built over 43 years in the financial services industry including senior executive roles as an Audit Partner, CFO and CRO will be invaluable to Orenda”.