Allen & Overy has made a further investment in Nivaura as part of a strategic seed funding round in which the fintech startup has raised $20m from investors including The London Stock Exchange.
A&O capital markets partner Simon Hill has been appointed as a director of Nivaura as part of this latest funding injection. Alongside Allen & Overy and The London Stock Exchange Group, investors include Santander InnoVentures and Transamerica Ventures.
Phil Smith, a partner at Allen & Overy, who was appointed as a director of Nivaura after the first funding round, commented: “We have been working with the team at Nivaura since they first joined Fuse and it is evident they are going from strength to strength. We have incorporated their platform in to the work we do for our clients, resulting in very positive outcomes.
“Their work is hugely important and we welcome further collaboration with them.”
Founded in 2016, Nivaura was the first company invited to work in A&O’s tech incubator Fuse and in November 2017 the pair executed the world’s first fully automated cryptocurrency-denominated bond. What was regarded as most disruptive about that transaction is that the ether bond was cleared, settled and registered on the public Ethereum blockchain.
Earlier investors in Nivaura include Fineqia International, which at the start of 2018 made a cash investment for an equity stake in the London-headquartered company.
