- The tokenized equity issuer Backed has successfully completed its Series A funding round
- The platform has already issued more than $50 million worth of tokenized shares
- The funds raised will be used for further development of Backed’s products and partnership agreements with asset managers
Backed, the equity tokenization platform, has announced the successful closure of its Series A investment round, raising $9.5 million. The round was led by Gnosis. Backed shared the news on their Twitter account, stating that this funding round is a significant milestone in their tokenization journey. (source)
In addition to Gnosis, other investors include Exor Seeds, Cyber Fund, Mindset Ventures, Stake Capital Ventures, Blockchain Founders Fund, Blue Bay Capital, and Nonce Classic. The specific details of the funding round and Backed’s valuation were not disclosed. (source)
The raised funds will be used to further develop Backed’s products and enter into partnership agreements with asset managers. The platform has already issued tokenized shares worth more than $50 million, according to their official website. (source)
Backed emphasized that they are fully regulated, offering a secure and compliant platform. They support tokenized shares of various assets, including large ETPs such as iShares USD Treasury Bond 1-3yr. (source)
This news comes as the tokenized asset sector continues to gain traction. According to a report by Bernstein analysts, the market capitalization of the sector is projected to exceed $5 trillion by 2028. (source)