Fluent raises $1.65M for blockchain financed supply chain effort

Investing | May 11, 2016 By:

Fluent announced it has raised $1.65m in new seed funding.

The round was led by ff Venture Capital, a New York-based venture firm with a portfolio that also includes Indiegogo. Crosscut Ventures, Digital Currency Group, Draper Associates, Fenbushi Capital, Lindbergh Tech Fund and the St. Louis Arch Angels also participated in the round.

“We are excited to see Fluent adopting the core technology underlying the bitcoin blockchain to build a financial network that enables real-time, peer-to-peer financial transactions within a trusted network of stakeholders in a value chain. Their solution makes supply chain finance impressively simple and intuitive for banks and companies alike,” said said Barry Silbert, founder and CEO of Digital Currency Group.

As part of the announcement Fluent also unveiled its banking partner and pilot participant, Commerce Bancshares – a Missouri-based US bank – which is listed on the NASDAQ under ticker CBSH.

Fluent is a financial operating network for global commerce built on blockchain technology.