Backed Finance AG Secures $9.5 Million in Series A Funding Round

Tuesday, 30 April 2024, 14:25

Backed Finance AG successfully secures a significant $9.5 million in their Series A funding round led by Gnosis and with participation from notable investors. The funding reaffirms Backed's commitment to bridging traditional finance with blockchain technology through tokenization solutions in both TradFi and DeFi sectors, accelerating asset managers onto the blockchain infrastructure.

https://store.livarava.com/958914bf-06fd-11ef-a6c0-63e1980711b2.jpg — Backed Finance AG Secures $9.5 Million in Series A Funding Round

Backed Finance AG secures $9.5M in Series A funding round

Backed Finance AG, a leading issuer of tokenized real-world assets and tokenization services, announced a successful Series A funding round. Led by Gnosis, the funding round attracted both existing and new investors including Exor Seeds, Cyber Fund, Mindset Ventures, Stake Capital Ventures, Blockchain Founders Fund, Blue Bay Capital, and Nonce Classic.

Bringing traditional finance to blockchain

Adam Levi, Backed co-founder, expressed excitement about the investment round. 'We are thrilled to have secured this significant investment round, with strong participation from both new and existing investors.' This funding will help the company build new products suited to institutional clients.

New tokenization solutions in TradFi and DeFi

Nonce Classic CEO Youbin Kang highlighted Backed's mission to bring RWAs on-chain. 'Backed aims to solve accessibility and efficiency issues in global financial markets.' The company's tokenized assets are known as bTokens and are issued as permissionless ERC-20 tokens, providing interoperability and composable features.

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