Jack Dorsey and Pantera Invest in Transparent Systems

Credit: Transparent Systems

Transparent Systems, a fintech blockchain which is developing a decentralized payment network for businesses, has raised $ 14 million.

In a Series A financing round led by the Californian Pantera Capital, Transparent Systems collected $ 14 million, reports TheBlock.

There is also the participation of one of the co-founders of Twitter, Jack dorsey, and venture capital companies Digital Currency Group, IDEO Colab Ventures and CMT Digital.

This latest operation brings total funding for the young shoot $ 22 million, thanks to a previous fundraising of $ 8 million in the summer of 2018.

Founded in Seattle in 2018 by Vulcan Inc, Transparent Systems quickly became an independent entity after completing its first round of financing.

The FinTech develops a decentralized real-time payment network to reduce transaction costs and friction associated with traditional payment rails.

Our first offer is focused on B2B payments and cash management, which allows businesses to directly manage settlement in real time while reducing financial risk, ”said Alex Fowler, CEO of Transparent Systems.

With the funds raised, the company will strengthen its team of engineers, now made up of around twenty specialists.