Zurich-based Obligate (previously FQX), a blockchain-based debt infrastructure provider, announced on Thursday that it has closed a Seed extension funding round, bringing the total capital raised to $8.5M (approximately €7.8M).
Blockchange Ventures and Circle Ventures, as well as initial seed co-investors Earlybird and SIX Fintech Ventures, participated in the round.
Benedikt Schuppli, Obligate’s Co-Founder and CEO, says, “This backing from leading TradFi and Web3 institutions proves the value of applying blockchain technology to traditional financial instruments. This investment enables us to build a more accessible and efficient financial system where borrowers and investors are directly connected.”
Obligate: What you need to know
Founded by Dr. Stephan Meyer, Dr. Philipp von Randow, and Benedikt Schuppli, Obligate combines deep legal and tech know-how with financial expertise to help build a new blockchain-based financial system.