Fintech developer Securrency raises $30 mln, to expand in UAE

DUBAI, April 26 (Reuters) - Financial technology developer Securrency said on Monday it had raised $30 million in its latest funding round, which would be used to roll out the company’s expansion plans.

The Series B funding round included existing investor WisdomTree Investment along with Abu Dhabi state fund Mubadala-backed Abu Dhabi Catalyst Partners, State Street and U.S. Bank.

Washington D.C.-based Securrency, which develops blockchain-based financial and regulatory technology, said it would use the funds to add new products, hire more staff and expand into new markets.

“Securrency’s core platform will be the rails on which all future value can move securely with real-time settlement,” Chief Executive Dan Doney said.

He also said it would serve as a bridge linking traditionally disconnected financial markets and ecosystems to enhance speed and efficiency and to drive down costs.

The company has applied for licences to establish regulated financial services businesses in Abu Dhabi, the United Arab Emirates capital, where it plans to partner with Abu Dhabi Catalyst Partners to provide digital asset services, it said in a statement.

The company last year raised $17.65 million in a Series A funding round. (Reporting by Alexander Cornwell. Editing by Jane Merriman)