Fluent, a NYC-based financial operating network for global commerce built on blockchain technology, raised $1.65m in seed funding.
The round was led by ff Venture Capital with participation from Digital Currency Group, Crosscut Ventures, Draper Associates, Fenbushi Capital, Lindbergh Tech Fund, and the St. Louis Arch Angels.
The company, which has raised $2.5m in total to date, intends to use the funds to grow the engineering team, bolster business development and expand its sales force.
Led by Lamar Wilson, CEO, Fluent has developed a blockchain based financial operating network for global commerce featuring real-time B2B payments, supply chain financing, and a peer-to-peer working capital marketplace that provide banking partners and non-bank lenders alike—such as alternative finance providers, asset-based lenders, and hedge funds—an alternative platform for lending into global supply chains.
The company has also announced the relationship with Commerce Bancshares (NASDAQ: CBSH), a Forbes Top-20 US Bank headquartered in Kansas City, MO, who has been participating in the Fluent Network pilot program since February 2016.