Blockchain company Billon Group has announced the successful closing of its first round of funding, collecting $2 million out of a collective of UK investors. The new injection brings total funding for the company to $5 million.
According to a report in IBS Intelligence:
Billon aims to provide secure and regulated environments for electronic currency transfers whilst being fully compliant with KYC and AML procedures. Payments on the network can be sent to accounts and smartphones via “a simple, instantaneous, scalable and low cost format.” It sees the funding as a “strong vote of confidence” for blockchain-based solutions. Billon started live operations in Poland last year.
“We are very pleased that investors have responded as they have towards Billon Group’s fundraising,” says Andrzej Horoszczak, CEO and Founder of Billon Group. “Billon Group’s Polish technology centre has one of the strongest blockchain teams worldwide, and we are well poised to continue to be a first mover in true e-money distributed ledger solutions.”
According to a report in the Polish press, Billon was accepted by the Financial Conduct Authority, the British financial supervisory authority, on a shortlist of companies that will be able to test their ideas in a so-called regulatory sandbox. The Polish startup was picked to participate along with eighteen other financial players – such as HSBC and Lloyds.
For an indepth piece on Billon see our report here at Blockchain News.