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Crypto settlement startup Transparent Systems secures $14 million

Seattle based startup Transparent Systems announced that it has raised over $14 million in Series A financing led by Pantera Capital with participation from Square, Inc., Future\Perfect Ventures, IDEO Colab Ventures, Digital Currency Group, and CMT Digital.

The company is planning to use the funding to accelerate product development, engineering, and begin overseas expansion. The funding is in addition to the $8 million in seed financing received from Vulcan Capital in July 2018. Pantera and Future\Perfect will also join Vulcan on Transparent’s Board of Directors.

“The financial industry is ready for new technology to improve the way people pay for goods and services. The team at Transparent has made impressive strides over the course of its first year, and we are excited to continue our work with them as their strategic partner and new investor that honors Paul Allen’s vision for the next wave of fintech,” said Chris Orndorff, Chief Investment Officer, Vulcan Capital.

“Blockchain technology is rooted in decades of advances in distributed systems and cryptography, and it’s at the center of banking and financial innovation today. Based on Transparent’s strategic partnerships and solution, we believe this investment represents an exciting opportunity and will provide tremendous value to the future of on-demand settlements,”  said Joey Krug, Co-Chief Investment Officer, Pantera.

Started in 2018, Transparent Systems is a spun of Vulcan, Inc., and provider of on-demand 24/7 cryptographic settlement solutions.

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