Cion Digital, an Austin, Texas-based developer of an enterprise SaaS blockchain orchestration platform, closed a $12m Seed funding round.
The round was led by Green Visor Capital and 645 Ventures. Cota Capital, Epic Ventures, Hourglass Capital Partners, BAT Ventures, Greycroft and Ulu Ventures also participated.
The company intends to use the capital to expand R&D resources and accelerate the rollout of crypto financing and payment solutions tailored for Financial Services companies (Lenders, RIA’s, Banks and Neobanks) and Big Ticket Retailers (Auto, RV/Marine, Jewelry and Luxury Goods) and the capabilities of its proprietary Blockchain Orchestration Platform for other industries.
Co-Founded by Snehal Fulzele, Fred Brothers and Arpit Agrawal, Cion Digital provides a proprietary Blockchain Orchestration Platform that allows institutions to build innovative finance solutions and to connect their legacy systems with decentralized finance. The company’s integrated suite of applications and services provides companies with access to all the connectivity, infrastructure and support needed to deploy blockchain-based real-time payments and financing. The platform’s blockchain interoperability simplifies the complex world of crypto (custody, liquidity, settlement, compliance, off-chain optimization, etc.), providing companies with a competitive edge and the ability to evolve their traditional finance offerings while minimizing development costs, infrastructure complexity and time to market.
Cion Digital is currently working with leading FinTech Lenders, Big Ticket Retailers, Financial Advisory Firms and traditional financial institutions across North America, Europe and Australia to deliver crypto financing and payment solutions, and to expand its offering to deliver DeFi-as-a-service to various traditional industry verticals such as Payroll Processors.
To meet demand, the company is planning an R&D Center to be based out of Pune, India.