Recently, there have been reports of a new fintech consultancy firm that will be headquartered in London, touting blockchain technology. The speculative new company, called 11FS, has reportedly raised $5 million USD in seed funding already from the venture capital operation Life.SREDA.
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11FS Seeks $100 Million USD by 2017
An article by Financial News first broke the story of the company’s goals to raise an initial $50 million USD from legacy institutions and venture capital firms by the end of the year. As well as the first proposed funding goals the startup wants to raise a total of $100 million by 2017. 11FS will concentrate on consultancy within the European region and promote blockchain industry standards and education.
11FS’ website currently says, “coming soon.”
Blockchain and distributed ledger technology have basically been a magnet towards investors since early 2015. The blockchain is best known as the technology powering the Bitcoin network, but many people believe they can harness the technology without a token.
Distributed ledgers offer faster settlement speed, reduces cost and erases the need for third party arbitration. 11FS, or the “Banking on