Axoni, a provider of distributed ledger technology to the financial services industry, has announced the completion of an $18 million Series A financing round led by Wells Fargo and Euclid Opportunities, NEX’s fintech investment business, bringing Axoni’s total funding to date above $20 million.
The financing round also included participation from Goldman Sachs, JP Morgan, Thomson Reuters, Andreessen Horowitz, FinTech Collective, F-Prime Capital Partners and Digital Currency Group.
Distributed Ledger Technology
Axoni has established itself in the financial services industry for its distributed ledger technology expertise through a variety of deployments including the optimisation of post-trade data management for credit default swaps, equity swaps, and foreign exchange derivatives, implemented in partnership with over a dozen global banks and financial infrastructure providers. The deployments validate how distributed ledger technology can streamline multi-party workflows, reduce reconciliation costs, and provide greater transparency to financial markets.
We are delighted to have strategic support from global leaders in financial services.
Greg Schvey, CEO of Axoni, said: “We are delighted to have strategic support from global leaders in financial services. The changes already underway based on distributed ledger technology will have a profoundly positive impact on the industry. Axoni is excited to help drive that progress alongside our investors and clients.”
“Since we started working with Axoni over a year ago, we’ve been impressed with their knowledge of financial services, as well as their expertise with how distributed ledger technology can intersect with other evolving technologies. They have quietly built their credibility with key financial players and have emerged as one of the leaders in this rapidly evolving space,” added Richard Kerschner, Chief Corporate Development Officer for NEX Opportunities.