Baton Systems, a Fremont, Calif.-based provider of distributed ledger-based post-trade solutions for capital markets, raised $4m in funding.
The investment was made by Illuminate Financial Management.
The company’s total of $16m in funding, which also includes investors Trinity Ventures, Alsop Louie and Commerce Ventures, will be used to accelerate its global roll-out, particularly in EMEA, where Baton recently opened a London office.
Founded in 2016 by Arjun Jayaram, CEO, Baton Systems simplifies how payments are made in large financial markets by delivering on-demand synchronization and orchestration of asset movements through a distributed ledger-based platform.
The company currently works with numerous market participants – including major global banks, custodian banks and exchanges.