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Cryptocurrencies

Tax software startup for the blockchain and crypto industry receives USD 7.8 mln

Wednesday 29 November 2017 | 10:32 AM CET

Libra Services, a blockchain-based accounting and tax services company, has raised USD 7.8 million in Series A funding from an undisclosed investor in Europe.

The company intends to use its new funding to continue expanding the Libra Enterprise Platform and develop new applications and data services. The lead investor of this funding round was not named, but other participating investors included Liberty City Ventures, cryptocurrency consulting company XBTO, Boost VC and Lee Linden.

Libra was launched in 2014 and it provides an enterprise-grade system for accounting and tax services based on blockchain tech. The company’s service is designed to give enterprise users connectivity and access to the blockchain and cryptocurrency ecosystem. This allows businesses to standardize financial data across a secure, distributed database that can be independently audited to show the historical accuracy of accounts and transactions.

This funding round brings the total capital raised by Libra to nearly USD 10 million. The company previously raised USD 2 million in seed funding led by Liberty City Ventures and Fenbushi Capital.

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