Connect with us

Blockchain News

FinTech and blockchain startup, Nivaura raises $20 million in Seed Extension

Published

on

By

FinTech and blockchain startup, Nivaura raises $20 million in Seed Extension

FinTech automation startup, Nivaura has raised $20 million in seed and seed extension round capital from Top partners.  The $20 million investment is led by London Stock Exchange Group and the bulk of the investment seems to have been raised recently. The first and original seed round was raised in October 2017 and the first extension round in January 2018 and these investments will help Nivaura expand its teams by hiring technical and professional administrative that will help the firm augment its products to the complex automation needs of its clients.
Nivaura did not give a detailed breakdown of the three seed rounds it has conducted but, the last one seems to have the bulk of the $20 million. According to the reports, the last seed was “significantly larger than the preceding two.”  Nivaura also said that it has plans to expand into Asia and the U.S. as well as invest in further R&D.
While the reports from Reuters reveal that London Stock Exchange Group (LSEG) holds a minority stake in Nivaura after paying an undisclosed amount, LSEG is not the only investor. Other investors in the current seed round include; Spencer Lake, former head of global markets at HSBC; Santander InnoVentures, the Spanish bank’s VC arm, law firms Linklaters and Orrick and others.
Nivaura is a London based Fintech startup which provides blockchain solutions that automate issuance of clearing and settlement of financial instruments which includes bond issuance and tokenized securities.  Asides automating insurance, the company is adding to its board as Nikhil Rathi, the CEO of the London Stock Exchange and Lake has joined the company as an advisor.
Dr. Avtar Sehra, Nivaura CEO explained the company’s plans saying, “Our focus for 2019 includes conducting a series of high-profile, large-scale projects with high-caliber partners to demonstrate our platform as a valuable solution across the full spectrum of capital markets primary issuance activities.” He adds that major financial institutions are developing appetites for pratical innovation that needs to be satiated and this appetite goes “beyond buzzwords and conceptual PoCs in ‘digital investment banking.”
Nikhil Rathi, head of international development for LSEG, said in a press release, “The investment strengthens our existing relationship with Nivaura and underlines the Group’s partnership approach in innovating to support our clients in accessing global investment pools.”  This investment may be a way of LSEG deepening its ties with Nivaura as the duo had worked on the issuance of tokenized securities as part of the regulatory sandbox program of the U.K. Financial Conduct Authority (FCA).
 
 
 

What do you think about $20 million raised for Nivaura’s seed extension? Share your opinion with us in the comment section below.
Image credit:EU startups
Disclaimer:
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.

Continue Reading
Advertisement
Click to comment

Leave a Reply

Blockchain News

270k User Data At Risk As Australian Crypto Exchange Accidentally Sends Emails En masse 

Published

on

An Australian Crypto Market Overt dubbed BTC Markets, has by a mere twist of fate jeopardised the privacy protection of its customers by accidentally baring their personal information. This way, its users are at the mercy of phishers and identity thieves. 

Business Insider disclosed how the exchange had bared the identities (names and email addresses) of more than 270,000 users when it released emails en masse to the users all at once. 

The same mail was addressed to a set of one thousand email recipients. 

This unintended disclosure came to be due to the emails sent all at once instead of mails being sent to each user personally, or better still, opting to utilize the “blind carbon copy” feature.

Any would-be identity thief would already have access to about nine hundred and ninety nine other personal data from each addressed email.

Caroline Bowler  the CEO of BTC Market explained that: 

“all account holders were affected.” 

She continued that: 

“The email was sent in batches, rather than in bulk.”

The mails could not be reversed or cut midway once it was sent.

Although sensitive data regarding passcode, financial information were not compromised, the disclosed info puts users at risk of phishers, identity thieves, and fuels the menace of obtaining by false pretences, as potential scammers now know who and who have crypto accounts.

This unintended move brings to the fore the challenges of centralizing Crypto markets. Any error or system hack can give away non-sensitive and even highly sensitive data.

With the look of things, BTC Market has to undergo an internal evaluation and timely review so as to tighten its security. To observe necessary due process, BTC Markets will  have to register this inadvertent occurrence to the Office of the Australian Information Commissioner.

Continue Reading

Blockchain News

I Didn’t Own Any Cryptocurrency Before Beam, Not Even Bitcoin – Beam CTO, Alex Romanov 

I did not have any relation or experience with any other cryptocurrency or blockchain.

Published

on

The Chief Technical Officer of Beam Alex Romanov has revealed the first cryptocurrency he ever owned. He said in the CryptoTvplus AMA Series on the 25th of November that Beam was the first cryptocurrency he owned. Not even bitcoin, he emphasized. 

He said the Beam project was the first blockchain related project he undertook. Before I started, he explained, “I did not have any relation or experience with any other cryptocurrency or blockchain. In fact, I didn’t even own any other cryptocurrency before Beam. Beam was the first cryptocurrency I actually first owned.”

This is like true for most of the team I think. We were new to this space and had to learn everything from scratch very quickly, which we did and eventually we produce Beam, Alex added. 

In the AMA session which was focused on the Beam Confidential DeFi Ecosystem, Alex also revealed the project did a hard fork in July and added a feature amongst others called Confidential Assets. 

This feature allows anyone to create a confidential token easily without special development skills. 

He also expressed his opinion on the future of the industry with emphasis on regulations as it affects privacy coins.

He said “we’ll see regulations moving forward to adapt to the new reality and understanding privacy is not something bad but something good that people need to be able to trade on blockchain”

You can watch the full session here. 

Continue Reading

Blockchain News

Beam is building Decentralized Bridges Between Chains to allow Interoperability- Beam CTO, Alex Romanov 

According to Alex Romanov, there’s a current strong trend in the industry in terms of interoperability. Beam is building  decentralized bridges between Beam, Polkadot and Ethereum. These bridges will enable anyone to move value between either of these networks and Beam in a completely decentralized way. 

Published

on

The CTO of Beam and Tech Lead has been revealed Beam is building decentralized bridges between blockchains. The bridge is designed to allow interoperability between blockchain networks such that values can be easily transferred between chains. 

This was made known on the CryptoTvplus AMA Series which aired on Wednesday, the 25th of November, 2020.

According to Alex Romanov, there’s a current strong trend in the industry in terms of interoperability. Beam is building  decentralized bridges between Beam, Polkadot and Ethereum. These bridges will enable anyone to move value between either of these networks and Beam in a completely decentralized way. 

The Beam CTO went on saying Beam definitely will lead the direction of building blockchain connecting tools. In his words 

Alex Romanov, CTO & Tech Lead, Beam
Alex Romanov, CTO & Team Lead, Beam.

Interoperability is happening, there will be more projects that connect to each other in the future and Beam will definitely lead this direction by building completely decentralized bridges that will allow to freely move value across chains and trade confidentially.”

Considering the development in the industry as regards to regulatory impact on privacy coins which Beam is one such, Alex Romanov said, in few years, we’ll see regulations moving forward to adapt to the new reality and understanding that privacy is not something bad but something good that people need to be able to trade on blockchain. 

He also said the industry will see much more serious trading on blockchain because it’s convenient and has lots of advantages. 

You can watch the AMA Session here below:

Continue Reading
Advertisement
Advertisement

Trending