Equibit Development Corp Close Funding Round

Equibit Development Corporation, a Canadian blockchain software firm, closed an angel funding round worth $150,000 from a United Kingdom investor. The company valued itself at $3 million. EDC's CEO a

By Ray Crawford·7 February 2016·1 min read

Equibit Development Corp Close Funding Round

Key Points

Equibit Development Corporation, a Canadian blockchain software firm, closed an angel funding round worth $150,000 from a United Kingdom investor.
The company valued itself at $3 million.

Equibit Development Corporation, a Canadian blockchain software firm, closed an angel funding round worth $150,000 from a United Kingdom investor. The company valued itself at $3 million.

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EDC's CEO and co-founder Chris Horlacher had worked as a CFO in the securities industry. The company aims to reshape over-the-counter securities trading. Equibit, its main product, is a decentralized securities register that connects to both Bitcoin and Bitmessage networks.

The platform lets companies issue shares, message shareholders, and conduct votes in real time on one system. Costs stay minimal because the infrastructure uses distributed networks rather than centralized intermediaries.

Horlacher said the investor response surprised the team. "We're amazed at the level of interest the company is receiving from investors since opening up," he said. "Blockchain technology has the potential to reinvent the securities industry and EDC is at the forefront of this revolution."

EDC kept its funding round open for less than two months. The company will use the proceeds to hire additional developers and launch its products. It also plans marketing campaigns aimed at investors, securities issuers, and industry regulators.

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