Nivaura, a London, UK-based provider of a platform which enables the issuance and administration of legally enforceable financial instruments using blockchain technology, raised $20m in seed and seed extension funding.
The round was led by London Stock Exchange Group with participation from Allen & Overy, Linklaters, London Stock Exchange Group, Santander InnoVentures and Transamerica Ventures.
The company intends to use the funds to expand its leadership, business development and technical teams in order to accelerate growth and to enter new jurisdictions and to cover new asset classes.
Founded in London in 2016 and led by CEO Dr. Avtar Sehra, Nivaura provides a workflow management and process automation platform focused on the primary issuance processes in capital markets. Its product offering consists of modular technology services enabling automated and compliant operation of the full lifecycle for issuance and administration of financial instruments, such as debt, equity and structured products.
Founded three years ago, the company’s focus is on the deployment of digital investment banking platforms for banks, exchanges and other financial institutions.
In conjunction with the funding, Richard Cohen, a senior Debt Capital Markets lawyer, is moving from Allen & Overy as Nivaura’s General Counsel and Head of Strategy. In addition, investment banking veteran Spencer Lake, formerly Head of Global Markets and Vice Chairman of HSBC’s Banking and Markets Division, joined as a board member, investor and commercial advisor on business development to the team. Nikhil Rathi, CEO of London Stock Exchange plc and Director of International Development, London Stock Exchange Group, who are partnering with Nivaura to drive innovation across capital markets, also joined as a board member.