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Symbiont Closes $20 Million Series B in Round Led by Nasdaq Ventures

Blockchain outfit Symbiont has closed a $20 million Series B funding round led by Nasdaq Ventures with participation from additional new investors including Galaxy Digital, Citi, Raptor Group, and others, reports Henry Vilar of Fintech Futures (Finovate’s sister publication).

Symbiont has developed a platform for institutional applications of blockchain technology.

The firm will use this funding round for deployments across various sectors including data management, mortgages, private equity, and syndicated loans.

“Our investment will also include the integration of Symbiont’s enterprise blockchain and smart contract platform into the Nasdaq Financial Framework,” said Gary Offner, head of Nasdaq Ventures.

Symbiont CEO and co-founder Mark Smith said: “Leveraging our financial markets and blockchain technology experience, our anchor partners like Vanguard, Lewis Ranieri, and Nasdaq will benefit from developing new distributed applications on Assembly, our enterprise blockchain and smart contract platform.”

Assembly enables financial institutions to maintain the peer-to-peer nature of their transactions with no central authority, while also getting a shared database with end-to-end privacy.

Symbiont received a big investment by Medici Ventures back in July 2017.

Founded in 2015, the company participated in our developers conference, FinDEVr Silicon Valley, in 2016. At the event, Symbiont CTO and co-founder Adam Krellenstein presented Distributed Ledgers and Smart Contracts, a look at the architecture of the company’s Smart Securities system.