Billon Group closes $2 m fundraising

  • Total funds raised now reaches $5 m
  • Group well connected to established banks and related infrastructure
  • Ambitions to expand into emerging markets

The world’s first regulated eMoney distributed ledger solutions provider, Billon Group, today announces it has successfully closed its first round of fundraising with its UK investor base. Following its success in Poland starting live operations in 2015, the distributed ledger technology company looks to provide a secure and regulated environment for eMoney transfers in multiple currencies, fully compliant with KYC and AML procedures. Payments can be carried out by corporations and users to a smartphone in a simple, instantaneous, scalable, and low cost format.

The recent close means the total funds raised to date are now $5m. These funds will be used to finance further investment in its UK and Polish partnerships.  For example, Billon is interconnected to 2 banks, 6,000 ATMs and 18,000 kiosks through partnerships in Poland.  Billon also plans to scale several client implementations in wider markets.

Andrzej Horoszczak, CEO and Founder said:  We are very pleased that investors have responded as they have towards Billon Group’s fundraising.   Billon Group’s Polish technology centre has one of the strongest blockchain teams worldwide, and we are well poised to continue to be a first mover in true e-money distributed ledger solutions.

David Putts, Chairman and MD, Expansion & Partnerships said: This is an inflection moment for the company. Our solutions are getting top ratings from clients, and we now seek to white label and license proven solutions to banking and non-banking partners who are ready to move out of innovation labs and begin changing their client engagement.

The fundraising is viewed as a strong vote of confidence in distributed ledger technology, and marks a sharp break from traditional blockchain technology when it comes to payment solutions. Billon Group sees enormous potential to simplify and codify alternative payments through a platform that integrates easily with APIs. The platform is designed to enable eMoney to be issued by multiple banks or regulated license holders.