Finhaven has raised a $6.6 million CAD Series A round.
The funding was led by Dunamu & Partners, with participation from Lanebury Growth Capital Ltd., Medici Leading Enterprise Fund, TheVentures, and two unnamed individual investors. Lance Tracey, CEO and director of Lanebury Growth Capital, has been appointed to Finhaven’s board.
“Security tokens represent the future of the capital markets.”
– DH Kim, Finhaven CEO
Finhaven is building a tokenized global securities exchange supporting the issuance and investment of digital securities, and providing a marketplace to trade them. Built on a cryptographic ledger, it promises to enable governance, security, and auditability for transactions in any blockchain, and help companies access capital through digital currencies.
“I believe Finhaven is well positioned to disrupt capital markets with their blockchain-based platform,” said Jinhwan Bae, CEO of Medici Investments. “I also believe in the leadership team, who’ve proven their ability to deliver results over the course of our relationship.”
The funding will be used to support the product and business development of Finhaven. In March, the company raised $1.3 million and said it was working with securities regulators to secure the necessary approvals.
“Security tokens represent the future of the capital markets, allowing companies to issue their own equity and debt tokens makes it possible for capital to flow more efficiently in global capital markets,” Finhaven CEO DH Kim said at the time of its $1.3 million funding round.
Finhaven’s ultimate goal is to become an integrated global securities exchange, and is working on partnerships with investment dealers and exchanges planning to transition onto the platform.