Elwood Technologies, a digital asset platform, has raised $70mn funding from investors including Goldman Sachs and Barclays.
In Brief:
Elwood Technologies offers a platform to connect global crypto exchanges through a single API, including analytics and support.
The round was led by Dawn Capital and Goldman Sachs.
It also included Barclays, BlockFi Ventures, Chimera Ventures, CommerzVentures, Digital Currency Group, Flow Traders and Galaxy Digital Ventures.
What does this mean?
The company, according to CEO James Stickland, wants to “provide broader mass market involvement in digital assets and cryptocurrency”. The funding – which leaves the firm with a valuation of over $500mn – will support the business through a “new phase”, says Bloomberg, of connecting financial institutions and crypto-native funds.
