Blockchain Startup Horizen Labs Doubles Target to Raise $4 Million

Yogita Khatri | April 12, 2019

Blockchain Startup Horizen Labs Doubles Target to Raise $4 Million
Just-launched blockchain technology startup Horizen Labs has raised $4 million in a seed funding round.
Participating in the round were VC firms Digital Currency Group (DCG) and Liberty City Ventures, as well as other independent investors. The U.S.-based startup had initially been looking to raise $2 million, but ultimately received double its target amount, it said in an announcement Thursday. The firm – an entity spun off of Horizen (formerly ZenCash) – was officially launched yesterday. Horizen Labs said it will build “inexpensive, time-efficient, and customizable” blockchain solutions for businesses with the investment. The firm offers a proprietary sidechains-as-a-service platform it says removes the need for entities to spend their resources on development and allows for quicker deployment of existing systems using pre-built functional sidechains. Horizen Labs CEO Robert Viglione said: “We have seen considerable demand from customers and businesses for custom blockchain solutions that are not expensive and time-consuming to build.

Spotlight

This report is prepared by current and former members of the Doing Business Unit, Global Indicators Group under the supervision of Rita Ramalho (Senior Manager, Global Indicators Group, Development Economics) and Santiago Croci (Program Manager, Doing Business). The Task Team is led by Nan Jiang (Se


Other News

FINANCIAL MANAGEMENT

Global Business Spend Indicator, New Survey By American Express, Shows U.S. Businesses Have Bullish Outlook on B2B Spending

American Express | June 01, 2021

Survey indicates that U.S. spending is on the rise across nine key business-to-business (B2B) categories. U.S. survey respondents cited that raw or processed materials, such as lumber, metals, and chemicals, are outpacing all other B2B spending categories. Automation is anticipated to be the fastest-growing area in technology spending, with nearly half of U.S. survey respondents planning to automate or further automate their B2B payments over the next year1. Flexibility is key for the U.S. businesses sur...

Read More

FINTECH

Quint Group joins growing tech community at Alderley Park’s Glasshouse

Quint | June 01, 2021

Global fintech Quint Group is set to join Bruntwood SciTech’s rapidly growing tech community at Glasshouse, Alderley Park. Quint owns and operates a number of fintech businesses which are focused on improving access to credit. The business, which, as well as in the UK, has operations in San Diego, Warsaw, Foshan, Sydney and Cape Town and clients that include major financial services providers like Goldman Sachs, Shawbrook Bank and Admiral, will move its HQ to Glasshouse to support its ongoing growth. Established in 2009, Quint Group is part of the UK’s fast growing fintech sector, which contributes over £11bn to the economy per year. Grea...

Read More

FINANCIAL MANAGEMENT

REPAY to Acquire Integrated Payments Provider BillingTree for $503 Million

REPAY, BillingTree | May 11, 2021

Repay Holdings Corporation, a leading provider of vertically-integrated payment solutions, today announced it has signed a definitive agreement to acquire BillingTree for approximately $503 million. The acquisition will be financed with approximately $275 million in cash from REPAY’s balance sheet and $228 million in newly issued shares of REPAY Class A common stock to be issued to the seller. The transaction is subject to certain customary closing conditions and is expected to close by the end of the second quarter of 2021. BillingTree, founded in 2003 and headquartered in Scottsdale, AZ, is a leading provider of omni-channel, integrated payments solutions to the Health...

Read More

FUNDING

FinLync Secures $16M to Support Global Expansion

FinLync | May 10, 2021

FinLync, a privately held, global fintech company transforming corporate finance and treasury offices through its world-class products, today announced that it has closed on a $16M equity funding round. Point72 Ventures led the financing and included investments from Nyca Partners, former CFO of Palantir and Founding Partner of Friends & Family Capital Colin Anderson, and Plaid Founder William Hockey. FinLync brings speed, simplicity and greater transparency and control to finance and treasury professionals globally. Through its world-class products, they provide them the infrastructure to unlock more value from their day-to-day operations. This latest funding will support...

Read More

Spotlight

This report is prepared by current and former members of the Doing Business Unit, Global Indicators Group under the supervision of Rita Ramalho (Senior Manager, Global Indicators Group, Development Economics) and Santiago Croci (Program Manager, Doing Business). The Task Team is led by Nan Jiang (Se

Resources

Events