Blockchain, Featured

Blockchain Startup New Street Technologies, B3i Services AG, And Bison Trails Raise Millions of Funds

New Street Technologies is an Indian-based blockchain startup who has raised about $2 million in a series A funding round. An investment venture fund called Unitus Seed Fund or Unitus Ventures and other businessmen took part in the funding round.

The former Citibank senior executive Sajeev Vishwanathan said, “We have started the product in partnership with a bank in Nepal, but we are in conversations with UNCDP (United Nations Capital Development Fund), which wants to take our lending based on remittance product to other remittance corridors as well. We have already disbursed loans of around Rs 30 crore for one of our bank partners in collaboration with business correspondents and have a mandate to do around Rs 1,000 crore for them through a three-year contract.”

B3i Services AG is a Switzerland-blockchain startup who has raised about $16 million. It has raised about $8.34 million which are in cash form and about $7.9 million which are in converted debt form. It has increased its capital to $22.6 million.

In 2018, the startup B3i Services AG was launched by Blockchain Insurance Industry Initiative (B3i). It is operated by international insurance companies [Munich Re and Swiss Re], Cointelegraph reported.

In August 2017, New Street Technologies is co-founded by Vishwanathan and the chairman of the International Association of Money Transfer Networks Mohit Davar, the Economic Times reported.

Bison Trails is a New York-based blockchain startup who has raised about $5.25 million in a seed funding round. The venture capital fund Initialized Capital and the seed-led venture capital firm Accomplice led the funding round. Galaxy Digital, Distributed Global, Notation Capital, Homebrew and other investors took part in the funding round. Bison Trails said, “We couldn’t be happier with this group of supportive, well-seasoned company builders and are thrilled to be working with investors that share the same long-term vision as us while we build a category-defining company in this nascent space,” BlockTribune reported.

[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]

Shabnam Dhar is a Copy Editor for OWLT Market.

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