Distributed ledger firm Billon Group has announced the successful closing of its first round of funding, with a total of $2 million raised from a UK investor base. The new injection brings total funding for the company to $5 million.

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.”

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by Alex Hamilton
Alex is Senior Reporter at IBS Intelligence, follow him on Twitter or contact him at: alexanderh@ibsintelligence.com
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