CoinNess Secures New Investment from Chinese VC Funds

Asian crypto info platform CoinNess has secured undisclosed funding in its Series A funding, led by Chinese enterprise capital ShunWei Capital, with participation from QF Capital and FreesFund. The firm stated the newest funding spherical is calculated “in hundreds of thousands of {dollars}.”

CoinNess stated the brand new funding will assist it increase its operations, together with its CNNS token that at the moment helps its consumer base worldwide. The platform provides its customers and token holders entry to unique funding info of the blockchain and cryptocurrency spheres, and in addition permits every shopper to turn into a contributor to all the ecosystem.

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One of the most important traits in crypto area in 2019 is that many startups have opted to safe their new funds by means of the old style methods, together with the enterprise capital.

Why they turned to VCs?

Crypto companies have turned to enterprise capitalists because the collapse in digital asset values over the previous yr has made new investments by means of ICOs, which had been as soon as plentiful, drying up for blockchain-related startups together with the so-called crypto hedge funds. Retail traders who poured cash into crypto belongings in 2017, in search of to learn from a sector-wide increase, at the moment are attempting to move for the exits — prompting funds to search out different options to remain the course.

In addition, issues for crypto funding worsened as ICOs actions have been below strain globally as regulators crack down on many initiatives for conducting unregistered securities choices.

Peter TAN, CEO of CoinNess, commented that “the brand new influx of funding proves nothing however two. One, blockchain isn’t any sharp break from conventional industries, the place long-term traders champion promising start-ups. Secondly, CoinNess has adequately confirmed itself inside the previous yr and can proceed its triumph saga within the subsequent 5 to 10 years to be an industry-leading firm within the blockchain/crypto sphere.”


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David is the founder of The firm originates business financing for companies of all size in the Canadian marketplace . Originations include business loans, term loans, asset based lines of credit, SR ED Tax credit financing , and receivable financing .

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