Proceeds to speed development of the company's Etherparty platform
VANCOUVER, May 30, 2017 /CNW/ - The Vanbex Group is pleased to announce the closing of its seed round of financing for the development of blockchain-based products, including Etherparty, the company's easy-to-use smart contract creator. Vanbex raised C$500,000 (US$365,474), in line with the company's target for its initial seed round.
"We're delighted with the level of support from investors," said Kevin Hobbs, Vanbex Group's chief executive officer. "We're also very fortunate to have such high level advisors and new hires joining Vanbex to help drive us forward toward the next stage in our growth."
Proceeds will accelerate development of Etherparty, a platform that will allow users with zero knowledge of smart contract programming to create an enforceable, self-executing digital agreement for all types of transactions. Etherparty is designed to make executing an Ethereum smart contract simple and easy for everyone.
Boris Mann and Adrian Jonklaas, co-founders of Vancouver-based Frontier Foundry Corp., are among Vanbex's backers.
"We're excited to see Vanbex take this investment and move forward with their professional blockchain consulting services as well as grow their in-house products," said Mann. "Both Adrian and I are looking forward to supporting more of the blockchain community here in Vancouver."
Since 2013, venture capitalists have globally invested at least US$1.4 billion in blockchain projects, according to a World Economic Forum August 2016 discussion paper. Blockchain, also known as distributed ledger technology, is the backbone of Bitcoin and other digital currencies.
Vanbex is also pleased to announce the appointments of Derek Spratt, a 34-year veteran of the telecommunications sector, as executive chairman, Steven Lee, a former finance and operations director at Slack Technologies, as chief financial officer, and Brian Onn as senior blockchain developer.
About Vanbex Group
Vanbex Group is a professional services and strategic consulting firm that specializes in all aspects of the blockchain industry. Established in 2013 to better tell the story of digital currency and blockchain-based companies, Vanbex has since evolved into a blockchain-based products and advisory services firm.
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