2017 marked the first year where ICOs outperformed it’s Venture Capital counterpart in collecting funds for early-stage internet companies. It is estimated that in 2017 alone ICOs raised more than $3 billion in funding when compared to only $900 million dollars that were raised through traditional VCs. Even though ICOs have an enormous amount of advantages over VCs, some companies seem to prefer the latter because it provides a kind of financial security offered by institutes with big money. CoinList is one of the companies that raised money through Venture Capitalist firm.
CoinList offers solutions such as easy compliance with regulations while providing answers to technically difficult components of a token sale to free up the time for business leaders. Their ComplyAPI service allows companies to conduct Anti-Money Laundering-Know Your Customer (AML-KYC) to check on investors and an access to a fast turnaround on manual reviews.
CoinList just closed a round of funding of $9.2 Million USD through industry’s most notable cryptocurrency funds. Companies that were involved in this round of funding were Polychain Capital, Digital Currency Group, FBG Capital, Libertus Capital, Blockchain Capital, CoinFund and Electric Capital. The new funding will be utilized in growing CoinList’s compliance, operations, engineering, product, and sales teams. The money will also be used in supporting the existing product offerings and launching new products.
CoinList CEO and Co-Founder, Andy Bromberg, commented: “ This successful fundraising round reflects the growing need that promising blockchain companies have for superior token sale compliance and execution. Now more than ever, companies raising money through an ICO need a platform partner that knows the intricacies of execution and regulation. CoinList provides even more integrity to the startups that have already distinguished themselves, and comfort to the accredited investors that want to commit to blockchain technology.”
It seems ironic that a company that is dedicated to making the process of ICOs smoother for early-stage tech startups have raised money through Venture Capitals. However, this is the sort of allegiance required between traditional structures with forward leading companies that will catapult the entire cryptocurrency ecosystem to carry the world into a new economic future.