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Centrifuge Raises $3.8m in Funding to Expand Global Blockchain Capabilities

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Amy Jacobs
Global Content Manager, sharedserviceslink
2018/03/07

 

Centrifuge has announced the closing of a $3.8m financing round, which was led by Mosaic Ventures and BlueYard Capital. 

Started by the founders of Taulia, Centrifuge is developing a decentralized, blockchain-based protocol which aims to rethink how businesses transact with each other, in a far more efficient and open way. Invoicing as we know it - and more importantly the resulting delays in payment and access to liquidity - will be solved for good by liberating the data from today’s siloed systems.

A decentralized network can create significant value and facilitate a number of new use cases and applications, including a more open marketplace for funding supply chain members and smart contracts that make payment when goods are delivered or services are performed. 

Centrifuge is the fourth start-up for the team of Silicon Valley veterans who previously built and exited successful companies in the procure-to-pay and finance space. Centrifuge is growing its engineering and product team in Berlin, while commercial activities are based in San Francisco. 

This round will also see Toby Coppel of Mosaic Ventures and Jason Whitmire of BlueYard Capital join the board of Centrifuge.

Maex Ament, CEO and Cofounder of Centrifuge, said "we want to fundamentally change how businesses interact, by consigning antiquated invoicing processes to the history books. To do this, we are building a world class team in Berlin, which has some of the most talented blockchain engineers in the market. We are super excited that Mosaic and BlueYard are leading this round - their expertise in the blockchain and decentralized internet space is a tremendous asset for Centrifuge.”

Toby Coppel, Partner and Co-founder of Mosaic, commented "we have been actively investing in the blockchain arena for over 4 years and have interacted with hundreds of teams. We love the bold vision and the unmatched experience of the Centrifuge team, which make this a compelling opportunity and strong match with our investment thesis for the space.”

Jason Whitmire, Partner at BlueYard, added “businesses, suppliers and service providers could re-think global supply chains by working on a shared protocol that liberates the transactional data entire economies run on and enables permission-less innovation especially on the financing side. The Centrifuge team has the right DNA to build such a protocol and we are looking forward to supporting them.”

For more information on Centrifuge visit https://sharespace.digital/supplier/centrifuge 
 

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