Today London-based Clearmatics announced it has raised more than $12m in a Series A funding round led by Route 66 Ventures from Virginia. The startup focuses on distributed ledger technology applications for the financial sector, including the Utility Settlement Coin (USC) project with 17 major financial institutions.
Clearmatics CEO Robert Sams said: “We are very excited to be working with investors who are so committed to disrupting legacy market structure through technology. This investment will enable us to create further DCNs and build a peer-to-peer ecosystem over the entire trade lifecycle, from trade execution to settlement.”
Existing investors TNF Capital and XTX Ventures also participated in this round. The startup says it plans to use the funds to extend its work on blockchain interoperability and transaction privacy. Additionally, the funds will go towards the set up its “Protocol Provider service” next year to facilitate the launch of USC.
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