Clearmatics Technologies LTD announced a 12m+ USD Series A funding round to help build the next generation of financial market infrastructure. Led by Route 66 Ventures, the round includes additional investment from private equity firm TNF Capital and XTX Ventures, the venture capital arm of the quantitative-driven electronic market-making firm XTX Markets. Samir Khosla, Managing Partner at TNF Capital, will join the Clearmatics Board of Directors.
This financing round will enable Clearmatics to expand its team and accelerate its ongoing development work in permissioned, peer-to-peer networks, including its work on blockchain interoperability and transaction privacy. The company will also launch a Protocol Provider service next year to support the go-to-market of the Utility Settlement Coin Project, a consortium of 17 banks and financial institutions creating a new digital cash instrument collateralised by central bank money.
Benjamin Britt, General Partner at Route 66 Ventures:
Most companies in this space are a lot of hype with very little innovative technology. Clearmatics is anything but hype and has stood out in the financial technology and blockchain community by building novel distributed systems that will enable the next generation of market infrastructure. We are extremely happy to be part of this journey with the Clearmatics team.
Samir Khosla, Managing Partner at TNF Capital:
We at TNF Capital are very pleased to deepen our commitment to Clearmatics through the Series A funding that builds upon the company’s excellent progress in delivering distributed ledger-based clearing networks. Its exceptional team under the leadership of Robert Sams, a visionary innovator, is bringing transformative change to financial market infrastructure. We envision Clearmatics triggering an exciting shift for wider market participants through its achievement of cross-chain interoperability.