Cryptocurrency Tax Software Firm Libra Raises $7.8M USD to Continue Software Dev

Blockchain, Investing | November 28, 2017 By:

Blockchain firm Libra has raised $7.8 million USD in its Series A funding round, led by an unnamed multi-billion dollar European family office.

Other investors participating in the round include trader and liquidity provider XBTO, Boost VC, Lee Linden and Liberty City, an existing investor of the company, having contributed $500,000 in a seed funding round in 2014.

Based in New York, Libra is building an accounting, audit and tax software for the blockchain and crypto industry. Libra’s software enables funds, market makers, and exchanges to automate and optimize back and middle office processes and reporting, while improving operational and financial analysis and control. Its blockchain audit tool allows information systems auditors to perform real-time, continuous auditing and monitoring of distributed ledger systems.

Libra said the money will be used to continue building its enterprise platform, as well as releasing new applications and data services. The company plans to launch its Blockchain Audit Tools next year.

“Libra’s vision is to be the premier provider of next generation accounting, audit, and tax software and data services for the blockchain and cryptocurrency industry,” said Jake Benson, CEO of Libra. “We provide our customers three core components of value. First, a single on-ramp that connects to the many data sources within the ecosystem. Second, the real-time data processing engines and services required to continuously and automatically standardize and deliver accurate financial information. And third, blockchain-native software that’s purpose-built for this industry.”