Today Adhara announced it raised a $7.5 million Series A round led by Germany’s Yabeo and the UK’s Force Over Mass Capital (FOM). The enterprise blockchain startup is best known for its central bank digital currency (CBDC) work in South Africa and as the blockchain technology partner to Fnality, the tokenized central bank payments solution previously known as the Utility Settlement Coin. Other investors include Tokentus and ConsenSys, which previously provided Adhara’s $15 million Series A round in 2018.
Talking about the fundraise, Julio Faura, CEO & Co-Founder of Adhara said, “It places us in a strong position to be the trusted software partner for commercial banks in the shift to real time settlement liquidity and the go-to software partner for system integrators or consultancies providing liquidity advisory.”
Faura headed up Santander’s R&D and Blockchain practice before founding Adhara with Ed Budd, Chief Digital Officer at Deutsche Bank and Peter Munnings, who formerly worked on innovation at FirstRand Bank treasury.
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