ConsenSys Raised $65 M in its First Funding Round

by in Blockchain News

ConsenSys Ethereum

Today Ethereum-focused software company ConsenSys announced completing its first external funding round with over $65 M. Among the participants were major firms like JP Morgan, UBS, Mastercard, Alameda Research, Protocol Labs, Maker Foundation, and others.

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The financial backing was held through a convertible note. This means that instead of receiving interest the investors would get equity in the firm. Consensys enables developing apps, launching frameworks, and reach the decentralized web. It was founded in 2014 in Brooklyn. The company aims to expand its partnerships with traditional financial companies, and develop its network to create more possibilities for engineers.

In the blog post published by the company, Consensys founder Joseph Lubin states that the round was essential for the further converge the centralized and decentralized financial domains.

ConsenSys is the company that developed a popular crypto wallet MetaMask. It also represents five other products: blockchain financial infrastructure CodeFi, smart contract audit and security provider Diligence, API access Infura, open-source protocol layer for business Quorum, and developers tool environment Truffle.