New York-based blockchain startup, Libra, has raised $15 million from its recently concluded Series B funding round. The firm aims to provide full spectrum audit, tax, and fund administration services to cryptocurrency companies.
$24.8 Million in Funding
Provider of financial reporting services for cryptocurrency assets ecosystem, Libra, has raised $15 million in a series B funding. With the amount raised in the Series B funding, the company has successfully raised $24.8 million.
The New York-based company plans to use its new funding to further build out its core product, the Libra Crypto Office platform. It also plans to release new products and services later in the year. Further speaking on the company’s expansion plans for its clients, Libra founder, and CEO, Jake Benson, said:
Libra’s mission is to provide a system of record that allows institutions with crypto transactions to meet the reporting requirements of managers, investors, auditors, and regulators. We are very excited our investors have affirmed their continued support for Libra with their contribution to our Series B raise. Their commitment allows us to expand our customer offerings, grow our team and increase our customer base.
This new round was led by Libra’s previous top investor, an anonymous multibillion-dollar European family office. It had continued participation from Liberty City Ventures.
The announcement comes closely after the company launched its new offering for fund administrators and the expansion of its customer portfolio. In July, blockchain startup also announced something in store for fund administrator customers. Fund administrator customers would be provided with timely information required to support the striking of daily net asset values (NAV).
Blockchain-based Auditing for Cryptocurrency Ecosystem
The New York-based blockchain startup, Libra, was founded in 2014. It is a pioneer in financial software for the blockchain and digital currency industry. The company delivers the leading middle and back office solution for the crypto asset ecosystem.
The company provides a system of record that automates and optimizes accounting, audit, and tax processes for funds, fund administrators, and exchanges. It also stretches to exchanges, trading operations, and enterprises. These top-notch solutions make sure of real-time visibility to crypto transaction activity and holdings for institutions that require security and scalability in reporting. Compliance and control solutions are also one of the perks that Libra provides.
In November 2017, the company unveiled its Libra Crypto Office. This enterprise eliminates the manual, inconvenient, and inefficient method of the back and middle processes, and automating the process instead. Formerly based in San Francisco, the company is now headquartered in New York.