Libra To Inject Fund Into Crypto Transactional Data Software Ecosystem
Libra closes its phase B funding with a sum of $15 million as it set to inject it into the crypto transactional data software ecosystem. Libra is a financial software company aimed at the goal of aiding the growth of the blockchain and cryptocurrency industry.
Libra's Phase B Funding Closes with $15 million
The funding brings the total amount realized in Libra's funding project to $24.8 million, as a total of $7.8 million in phase A of the funding, plus a previously raised $2 million.
The founder and the CEO of the Libra project, Jake Benson described the funding as,
“Libra’s mission is to provide a system of record that allows institutions with crypto transactions to meet the reporting requirements of managers, investors, auditors, and regulators. We are very excited our investors have affirmed their continued support for Libra with their contribution to our Series B raise. Their commitment allows us to expand our customer offerings, grow our team and increase our customer base.”
As described by Benson, Libra’s primary vision is providing the blockchain and cryptocurrency industry with the first of its kind, next-generation accounting, audit, and tax software and data services, as it offers the crypto ecosystem the best offer through its primary goal.
The new funding which a total of $24.8 million was realized will be injected into furthering the cause of the company, the primary product of the company, which is the Libra crypto platform and also infusing the rest into other new products and services.
The success of the funding can be reputed to a group of investors of Liberty City Ventures, crypto-asset specialist, XBTO, Boost VC, and Lee Linden, that all lead the phase A and the phase B of the project.
The success of the funding will not only aid the growth and development of the Libra core project, but it will also aid the expansion of the company into other fields such as mining, lending, and custodianship.