Blockchain Rockstars Billon receive £2M funding with UK Future Fund participation

The 5-year-old British-Polish fintech Billon Group has accomplished £2 million funding supported by the Future Fund scheme, obtainable to promising UK tech companies through the COVID-19 pandemic.

Billon secured funding commitments from angel traders and VCs of £1 million matched by the UK authorities by way of the British Enterprise Financial institution for a further £1 million. As a part of the settlement, Billon has the chance to draw further non-public investments for as much as £500,000 by the tip of October 2020, with all investments within the type of convertible mortgage notes.

Wojtek Kostrzewa, CEO Billon Group, feedback:

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“The Future Fund settlement permits Billon to remain centered on serving to shoppers pursue digital transformation and new enterprise fashions for a world modified by the pandemic. I’m very grateful to our traders and the Future Fund for an instantaneous and constructive response on the top of this disaster.”

The Future Fund was established by the UK authorities in April 2020 to help startups and modern corporations affected by the COVID-19 pandemic and financial downturn. This system requires non-public sector lead funding, with the federal government contributing on a match funded foundation. To this point, the fund has invested in 320 corporations for a complete quantity of over £320 million.

Anand Phanse, CFO Billon Group, provides:

“This new funding in 2020 will help the following part of Billon’s growth, and represents an endorsement that traders search pure distributed ledger expertise corporations which can be higher suited to fixing nationwide foreign money and private knowledge challenges than sure early blockchain architectures. The pandemic will open new alternatives for modern corporations like Billon.”

Billon beforehand raised over $13 million of fairness from traders, together with the current shut of its Sequence A. As effectively, the corporate acquired a further $6 million in R&D grants from packages equivalent to EU Horizon 2020 (now rebranded as EIC Accelerator), the Polish Nationwide Centre for Analysis and Growth, and Innovate UK.

Billon created a DLT protocol and system particularly for tokenizing and transacting nationwide foreign money and processing delicate knowledge in compliance with laws, thus unleashing the transformational capabilities of blockchain applied sciences within the regulated world.

Billon’s underlying protocol was designed for top throughput ranges and low value of upkeep in a spread of environments. The system helps shoppers growing their very own enterprise-grade functions in areas of Accounts & Transactions, Trusted Paperwork, and Identification & Knowledge Sharing.

Billon Group Ltd. was based within the UK in 2015, following a number of years of R&D in Poland. Its distinctive DLT protocol has been supported by many R&D grants, together with the EU Horizon 2020 program. Billon is licensed to difficulty digital cash by regulators within the UK and Poland.

Billon’s rising consumer record contains main corporations equivalent to FIS, Raiffeisen Financial institution Worldwide and BIK (the Polish credit score reporting company). Billon has workplaces in London and Warsaw.

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