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Clear raises $13 million in series A funding for blockchain-based settlement and clearing

Clear Blockchain Technologies has
announced $13 million raised in its series A funding round to further its mission
to ‘transform B2B enterprise clearing and settlement’ through blockchain.

Founded in 2018, Clear aims at facilitating
frictionless B2B commerce allowing enterprises to realise more value from their
partnerships. It has developed a blockchain-based platform that helps
enterprises automate contracts and data management, whereas guaranteeing
control, security, and privacy in networks with multiple partners. This shared
ecosystem allows automatic payments and clearing, reducing transaction fees,
long payment cycles and managing fraud prevention.

Clear has conducted several trials in the telecom
industry wherein it moved millions of dollars for organisations like BT, Colt,
Deutsche Telekom, PCCW Global, Telefónica, Telstra, TATA, Orange, and many
more. These trials demonstrated many implementations of multi-tier smart contracts,
be they frictionless contracting for roaming charges, disputes around call
detail records, fraud prevention, wholesale minute sales between telco and
mobile providers and more.

The round was led by the Fintech Strategic Investments
group at Eight Roads, the proprietary investment firm backed by Fidelity, along
with Telefónica Innovation Ventures, Telekom Innovation Pool of Deutsche
Telekom, HKT, and Singtel Innov8.

Last month, fintech firm Lightnet raised $31.2m in series A funding, which will be used to fortify the company’s investment in the underlying blockchain technology on the Stellar Network and build a next-generation financial mobility network. Apart from the potential 500,000 cash agents across its ecosystem, the company will integrate with several renowned payment and remittance partners across Asian and many south east Asian nations to ensure successful activation of its ecosystem.

US-based Securrency secured $17.65m in its series A funding round led by WisdomTree Investments as a strategic investor. By investing and collaborating with Securrency, WisdomTree is planning to integrate its blockchain technology into the exchange-traded fund (ETF) ecosystem to bring the benefits of ETFs to a wider range of investors and improve the investor experience.

Interested in hearing more in person? Find out more at the Blockchain Expo World Series, Global, Europe and North America.

The post Clear raises $13 million in series A funding for blockchain-based settlement and clearing appeared first on The Block.

Read the original post: Clear raises million in series A funding for blockchain-based settlement and clearing

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