US banking major Citi has invested in Axoni, a New York-based provider of distributed ledger technology to the financial services sector.
The latest deal takes the total amount raised by Axoni in its Series A funding round to over $20m. The size of the Citi deal was not disclosed by the companies.
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Other Series A investors in Axoni include Wells Fargo, NEX Group, JPMorgan, Goldman Sachs, Thomson Reuters, F-Prime Capital, Andreessen Horowitz and DCG.
Citi has previously worked with Axoni on various distributed ledger projects such as optimisation of post-trade data management for credit default swaps and equity swaps, and collaborative management of reference data among industry participants. Currently, the bank is engaged in Axoni’s work of replatforming of the DTCC Trade Information Warehouse.
Axoni CEO Greg Schvey said: “Having the support and domain expertise of a world-class institution such as Citi will allow us to execute our vision even more broadly and rapidly – we are delighted to have Citi join Axoni’s investor group.”
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