The fintech start-up
DrumG which started in August 2017, has received a $6.5m investment from blockchain firm ConsenSys. The company plans to develop blockchain products for the financial services sector. Even though ConsenSys is a major backer, the company is blockchain agnostic. Hence they plan to select the best blockchain protocol for each application.
ConsenSys was the sole investor in this funding round. Joseph Lubin, ConsenSys founder and CEO, will also serve on DrumG’s Board of Directors. CEO Tim Grant previously headed up R3 Labs and will continue to work with Corda when appropriate.
Grant said: “We are delighted to welcome an industry luminary in the form of Joe Lubin onto our Board of Directors and to have the opportunity to engage with the significant group of professionals and global resources that make up ConsenSys.”
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