DLT Firm Billon Group Raises £2 Million Under Future Fund Scheme

Billon Group Ltd. has raised £2 million supported by the Future Fund scheme, a COVID support program designed to help struggling early stage UK firms. According to the company, Billon secured investment commitments from angel investors and VCs of £1 million matched by the UK government through the British Business Bank for an additional £1 million.

Billon also has the opportunity to raise additional private investments for up to £500,000 by the end of October 2020.

The Future Fund is a convertible security offering that is initially a loan but may convert into equity meaning the UK government will own shares in firms funded by the program. The Future Fund has invested in 320 companies for a total amount of over £320 million.

In March, Billon announced a £6 million funding round.

Wojtek Kostrzewa, CEO Billon Group, stated:

“The Future Fund agreement allows Billon to stay focused on helping clients pursue digital transformation and new business models for a world changed by the pandemic. I am very grateful to our investors and the Future Fund for an immediate and positive response at the height of this crisis.”

Billon has created a distributed ledger technology (DLT) protocol and system specifically for tokenizing and transacting national currency. The DLT was designed for high throughput levels and low cost of maintenance in a range of environments.

Billon’s clients include FIS, Raiffeisen Bank International, and BIK (the Polish credit reporting agency). Billon has offices in London and Warsaw.

Register Now to Attend
Sponsored Links by DQ Promote



Send this to a friend