LOS ANGELES, CA, CapLinked has raised $2.5 million.
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CapLinked, a developer of proprietary information control software, announced the company has accomplished a significant funding milestone, raising $2.5 million for a blockchain product serving the emerging tokenized equity market, known as STOs (Security Token Offerings).
The seed funding will provide funds to develop TransitNet, a platform CapLinked is creating to provide security token issuers with post issuance services and tools to manage reporting, governance and title verification.
Separately, the company also announced that David Madden has joined the TransitNet team as Chief Revenue Officer. Madden, who most recently ran the crypto fund services initiative at Trident Trust, brings over 20 years of experience in the financial services industry and will oversee the company's New York City based efforts.
Chris Grey, CapLinked COO, explains the forces driving development of TransitNet, "The decentralization of security tokens creates unique challenges. TransitNet provides a secure platform for issuers and investors to review financial reports, track buy and sell activity, and confirm verification of ownership. All activity is written to the blockchain to create unalterable records."
CapLinked's financing was supported by leading crypto funds: Alphabit Fund, Translunar One, Kenetic Capital, NextProtocol Ventures, and BKCM. TransitNet's service will be accessible to issuers and token investors as well as service providers and financial institutions that will use it for accessing data on behalf of their clients.
The market for security tokens is growing rapidly. "The blockchain holds enormous potential for the issuance of securities," says CapLInked CEO Eric M. Jackson. "Tokenized securities provide improved transactional efficiency, increased liquidity, and greater financial inclusion than using pieces of paper to represent ownership in an asset. And with an ecosystem of issuance services, regulated exchanges, and transactional compliance tools coming online this year, we estimate the market cap of equity tokens alone could reach $1 trillion by 2020."
This new financial infrastructure benefits from CapLinked's core competencies of robust security, tracking and governance. One of CapLinked's lead investors, Justin Schmidt, Founder of Translunar One, agrees. "The Caplinked team is solving a very important piece of the STO ecosystem. I am super excited to be involved with one of the smartest, most dynamic teams in my 15 years of startup experience," Schmidt says.
For more information about CapLinked, visit https://www.caplinked.com/. Additional details about TransitNet can be found at https://transitnet.io.
CapLinked's cloud platform for information sharing and collaboration is used globally by thousands of companies in 113 countries for financial transactions, business development, due diligence, legal compliance and secure file retention. Eric M. Jackson (PayPal's first head of US marketing) and Christopher Grey (former private equity and investment banking executive) founded the company in 2010. The company's investors include Peter Thiel and Founders Fund.
About Translunar One
Translunar One is a leading crypto-hedge fund with a diverse, liquid portfolio of digital assets. Founder and Fund Manager Justin Schmidt, along with his strategic partners at Venture One, a company that invests in and incubates blockchain-related companies, takes a hands-on approach to each investment, actively advising portfolio companies to foster their growth. Translunar One is based in Austin, Texas and the Cayman Islands, and has been featured in CEO Magazine, Austin Business Journal, HFM Global, Coindesk and recent investments include Lottery.com and OpenFinance Network as well as other Security Token Offerings.