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Centrifuge announces $3.8 million funding for blockchain

Thursday 8th March, 2018

Startup business Centrifuge has announced the closing of a $3.8 million financing round led by Mosaic Ventures and BlueYard Capital.

Started by the founders of Taulia, Centrifuge is a decentralised operating system that aims to unlock closed, proprietary financial supply chains. This will enable commerce that is more open, connected and data-rich.

Centrifuge is the fourth startup for the team based in Silicon Valley who previously built and exited successfully companies in the procure-to-pay and finance space.

The company is growing its engineering and product team in Berlin, a city known for experimentation in cryptocurrency, blockchain and open-banking. The commercial activities are based in San Francisco.

Maex Ament, the CEO and Co-founder of Centrifuge, stated: “We want to fundamentally change how businesses interact, by consigning antiquated invoicing processes to the history books. To do this, we are building a world class team in Berlin, which has some of the most talented blockchain engineers in the market. We are super excited that Mosaic and BlueYard are leading this round – their expertise in the blockchain and decentralised internet space is a tremendous asset for Centrifuge.”

Toby Coppel, Partner and Co-founder of Mosaic said, "We have been actively investing in the blockchain arena for over 4 years and have interacted with hundreds of teams. We love the bold vision and the unmatched experience of the Centrifuge team, which make this a compelling opportunity and strong match with our investment thesis for the space."

Toby Coppel from Mosaic Ventures and Jason Whitmire from BlueYard Capital will be joining Centrifuge’s board.