Blockchain startup Finboot will be opening offices in Cardiff, Wales. The expansion follows a £2.4 million ($3.33 million) investment from the Development Bank of Wales, Spanish energy company Repsol, and clothing chain New Look founder Tom Singh.
Finboot is the company behind MARCO, a blockchain as a service solution that acts as middleware for blockchains. The blockchain agnostic solution supports applications running on Ethereum, Ethereum Quorum, Hyperledger Fabric, and Cordano. It also developed BlockLabs, a developer platform for blockchain solutions powered by MARCO.
A lot of Finboot’s impressive growth can be attributed to its relationship with Repsol. The company was chosen in 2017 to take part in the energy supplier’s startup acceleration program and by the beginning of 2019, Repsol was announcing the implementation of BlockLabs in its certification process of petrochemical products. Since then, Repsol has completed two rounds of investment in Finboot and implemented BlockLabs in most of its energy complexes.
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