Cryptocurrency Tax Software Startup Libra manage to Raise $7.8 Million
November 27, 2017 4:01 am
Blockchain startup Libra has brought $7.8 million up in another Arrangement A financing round, the company reported today.
The monetary assets originated from a gathering of financial specialists which incorporated an anonymous family office situated in Europe. Likewise adding to the round, as indicated by Libra, was seed-arrange VC firm Freedom City Endeavors, cryptocurrency advertises producer XBTO and Lee Linden, a beginning time financial specialist who beforehand worked for Facebook.
Of that gathering, Freedom City is a returning financial specialist subsequent to putting in $500,000 in a seed arrange round in 2014. Libra creates cryptocurrency and blockchain-arranged accounting and tax software, and the new subsidies will be put toward the improvement of its Libra Endeavor Stage, the startup said.
“Libra’s vision is to be the head supplier of cutting accounting, audit, and tax software and data services for the blockchain and cryptocurrency industry,” Jake Benson, Libra’s CEO, said in an announcement.
Established in 2014, Libra initially began with offering its LibraTax accounting software, an early contestant in the market for cryptocurrency particular assessment devices. That was the year the US IInternal Revenue Services (IRS) quite issued direction expressing that it would treat cryptocurrency like bitcoin as sorts of taxable property.
Most recently, the company has looked at the undertaking level market, creating apparatuses that are pointed to a limited extent at trades and other exchanging focused companies. Libra included a previous boss hazard officer from Siemens to its group in May as a feature of that enterprise push.