Cion Digital, the creators of the world’s first corporate SaaS blockchain orchestration platform, announced today that it has raised $12 million in seed funding.
The funds will be used to increase R&D resources and accelerate the rollout of crypto financing and payment solutions for Financial Services companies (Lenders, RIA’s, Banks, and Neobanks) and Big Ticket Retailers (Auto, RV/Marine, Jewelry, and Luxury Goods), as well as to expand the capabilities of the firm’s proprietary Blockchain Orchestration Platform for other industries.
Green Visor Capital and 645 Ventures led the round. Epic Ventures, Hourglass Capital Partners, BAT Ventures, Greycroft, and Ulu Ventures were also present.
Traditional businesses and financial institutions that rely on legacy technological infrastructure still face substantial obstacles in adjusting to the intricacies of the fast-changing digital asset industry.
Cion Digital’s comprehensive suite of applications and services, a pioneering breakthrough in the FinTech and blockchain field, gives businesses quick access to all the connectivity, infrastructure, and support they need to quickly deploy blockchain-based real-time payments and financing. The platform’s blockchain interoperability simplifies the complicated world of crypto (custody, liquidity, settlement, compliance, off-chain optimization, and so on), giving businesses a competitive advantage and allowing them to quickly and seamlessly evolve their traditional finance offerings while reducing development costs, infrastructure complexity, and time to market.
Commenting on the investment Simon Yoo, Founder and Managing Partner of Green Visor Capital said, “We are excited to partner with this uniquely qualified team on their mission to help businesses grow by being able to seamlessly connect to the evolving digital asset economy.”
“Cion Digital Co-Founders Snehal Fulzele, Fred Brothers and Arpit Agrawal have deep knowledge and experience in both traditional finance and the rapidly-growing blockchain and crypto sectors, as well as a track record of building successful FinTech companies,” said Nnamdi Okike, Co-Founder & Managing of Partner 645 Ventures. “We are very impressed by the platform’s technological innovations that will enable traditional businesses to deploy and benefit from crypto-based payments solutions previously unavailable to them.”
“Established businesses are struggling to understand crypto and decide when and how to embrace it. It’s a significant challenge to quickly and effectively embed crypto in their legacy products and services”, said Fred Brothers, Co-Founder and President of Cion Digital. “Without Cion Digital’s Blockchain Orchestration Platform, existing businesses can take months or years – and spend significant up-front investment – to gain knowledge, acquire resources, and begin delivering crypto solutions. Since the crypto ecosystem is evolving so fast, without the right help and expertise it’s like trying to hit a moving target.”
“It has always been a passion of mine to be able to make financial services more inclusive,” said Snehal Fulzele, Founder and CEO of Cion Digital. “Connecting traditional business to blockchain technology allows us to do this by creating a way for people with assets held outside of traditional banking relationships to grow their portfolios and borrow against those assets when they otherwise would be unable to.”