Clearmatics Announces Series A Fundraise
Led by Route 66 Ventures with 12m+ USD raised including investment from TNF Capital and XTX Ventures.
London, October 10th, 2018 —
Clearmatics Technologies LTD (“Clearmatics”) today announced a 12m+ USD Series A funding round to help build the next generation of financial market infrastructure. Led by Route 66 Ventures, the round includes additional investment from private equity firm TNF Capital and XTX Ventures, the venture capital arm of the quantitative-driven electronic market-making firm XTX Markets. Samir Khosla, Managing Partner at TNF Capital, will join the Clearmatics Board of Directors.
This financing round will enable Clearmatics to expand its team and accelerate its ongoing development work in permissioned, peer-to-peer networks, including its work on blockchain interoperability and transaction privacy. The company will also launch a Protocol Provider service next year to support the go-to-market of the Utility Settlement Coin Project, a consortium of 17 banks and financial institutions creating a new digital cash instrument collateralised by central bank money.
Benjamin Britt, General Partner at Route 66 Ventures:
Most companies in this space are a lot of hype with very little innovative technology. Clearmatics is anything but hype and has stood out in the financial technology and blockchain community by building novel distributed systems that will enable the next generation of market infrastructure. We are extremely happy to be part of this journey with the Clearmatics team.
Samir Khosla, Managing Partner at TNF Capital:
We at TNF Capital are very pleased to deepen our commitment to Clearmatics through the Series A funding that builds upon the company’s excellent progress in delivering distributed ledger-based clearing networks. Its exceptional team under the leadership of Robert Sams, a visionary innovator, is bringing transformative change to financial market infrastructure. We envision Clearmatics triggering an exciting shift for wider market participants through its achievement of cross-chain interoperability.
Zar Amrolia, Co-CEO of XTX Markets:
We are delighted to invest in Clearmatics. XTX Markets believes that the serious application of distributed ledger technology will improve financial market infrastructure. We look forward to working with Clearmatics on their new venture.
Robert Sams, CEO of Clearmatics:
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.
About Route 66 Ventures
Route 66 Ventures is a private investment firm focused on helping entrepreneurs shape the financial services landscape of tomorrow by providing venture capital and credit solutions to emerging financial technology and services companies.
The Route 66 venture capital team invests globally in early and growth stage disruptors, incumbents and service providers throughout various sectors in the financial services ecosystem. The Route 66 credit team seeks to fund alternative lending platforms and business models with balance sheet needs by providing secured debt facilities and purchasing whole loans.
About TNF Capital
TNF Capital Limited (“TNF”) is a technology-focused private equity firm which engages with seed, early and growth stage investments. TNF is passionate about supporting exceptional entrepreneurs who bring disruptive technologies and deep determination to create transformative changes in their areas of focus. Blockchain technology, crypto-economy, and cyber security are some of the key areas of funding interest for TNF.
The company invests across continents from its offices in Geneva and Hong Kong. TNF’s team includes entrepreneurs and industry executives who bring together a wide spectrum of skills to help ensure the success of its investee companies.
About XTX Ventures
XTX Ventures is the venture capital arm of XTX Markets, the electronic liquidity provider. It leverages XTX Markets’ deep expertise in machine learning and financial technology to invest in companies where the core expertise of XTX Markets can be used to help grow and enhance those businesses.
Founded in 2015, Clearmatics is a London-based blockchain R&D company designing and servicing protocols for Decentralised Clearing Networks (“DCN’s”). DCN’s are private, member-owned and governed networks that enable peer-to-peer transfer of financial value and automation of contractual and fiduciary operations without reliance on trusted third-parties.
Clearmatics grew out of prior work in the Ethereum project and is a member of the Enterprise Ethereum Alliance. The company’s team has over 30 people between its headquarters in London and Silicon Valley.
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