seriesOne, a blockchain based fintech firm, announced on Wednesday its acquisition of Dynamo Development, a custom software development company with a mature engineering team based in the Ukraine. According to seriesOne, the acquisition enables it to expand and strengthen its in-house technology development capabilities, to accelerate the delivery of solutions for issuers and react to market demands with the support of an additional 40 engineers.
As previously reported, seriesOne is described as an SEC compliant crowdfunding portal designed to liberate corporate finance from the big banks and corporate elites that have historically dominated the space. The platform enables businesses and entrepreneurs to raise money through ICOs, in which crypto tokens are issued on a blockchain, as well as through traditional equity and debt securities.
seriesOne reported that Dmitry Grinberg, former CEO of Dynamo Development, will oversee the in-house technology division in his new role as the Global Head of Technology. Michael Mildenberger, CEO of seriesOne, stated:
“For the past five years, Dynamo Development has been a trusted, strategic development partner who has enhanced both seriesOne’s offerings and our capability in the digital security fundraising space. Now is an opportune time to bring our development team in-house as we expand our solutions to issuers and investors in Europe and Asia, and provide them with a growing list of products and services.”
Grinberg went on to add:
“seriesOne was among our most important customers and the opportunity to join them as they expand in the digital security space is significant to our team. We have developed specific fintech expertise through a long association with clients such as seriesOne and other financial clients such as Prime Trust and Citibank. We’re looking forward to continuing to contribute to the growth of seriesOne.”