Elwood Technologies, a crypto firm in hand by Alan Howard, has recently raised $70 million in an exceedingly fundraising spherical. The funding round was co-led by Goldman Sachs and Dawn Capital. Elwood could be a crypto-focused market access and mercantilism platform serving fintech firms, plus managers and different institutional investors. It offers a variety of services as well as property with numerous trading venues through an API, execution and reportage and analytics.
A new chapter in Elwood Technologies journey
Howard created Elwood in 2018. Its early work targeted on building indices to supply investors exposure to blockchain and crypto. The Block then disclosed last June that the business had pivoted to specialize in software. James Stickland, corporate executive of Elwood Technologies, same in an exceedingly statement that the corporate had been established to satisfy the wants of establishments seeking to secure exposure to digital assets.Elwood’ journey has entered a replacement part and still expand our capabilities, sanctionative our institutional purchasers to produce their users with improved access to digital assets.
How will the funds help the firm?
Mathew McDermott, world head of digital assets at Goldman Sachs, said in an exceedingly statement. As institutional demand for cryptocurrency rises, we’ve been actively broadening our market presence and capabilities to cater for consumer demand. Additionally to steer investors Goldman and Dawn, the Series A spherical was joined by Barclays, BlockFi Ventures, Chimera Ventures, CommerzVentures, Digital Currency Group, Flow Traders and Galaxy Digital Ventures.
the corporate can use the money to expand its product and to grow internationally. Howard, former corporate executive of the hedge fund Brevan Howard, is Elwood’s majority shareholder. Since late 2020, Howard has been financing heavily within the crypto sector, baking dozens of startups and putting in businesses. He launched BH Digital, a crypto-focused division of the hedge fund he founded, earlier this year.
Source: https://www.thecoinrepublic.com/2022/05/15/elwood-technologies-raised-70-million/