June 5, 2015
In recent news, blockchain financial startup Mirror raised $8.8 million in its Series A round which was led by Ripple Labs investor Route 66 Ventures. The funding also included investments from Battery Ventures, Crosslink Capital, RRE Ventures and Tim Draper. As a part of the deal, Route 66 Ventures partner Pascal Bouvier will be joining Mirror’s board of directors.
"There is an unbundling of the financial services industry that’s occurring right now, and we see an enormous opportunity to provide advanced, more efficient services for risk management and hedging. We’re building tools for traditional financial assets, leveraging the bitcoin protocol. said Avish Bhama, co-founder and CEO of Mirror to media. We plan to use this new financing to continue to build out our engineering team and scale international operations.
Mirror, earlier known as Vaurum labs, is a prediction platform that democratizes access to financial markets. They leverage blockchain technology to allow individuals and businesses create and exchange "smart" financial contracts. The company’s decentralized peer-to-peer market enables efficient ways to hedge economic and business risks at a fraction of today's costs.
After this round, Mirror’s total funding stands at $12.8 million including a seed funding of $4 million which was raised by the company last year. The funding was led by Battery Ventures, Tim Draper and AOL CEO Steve Case.
About Mirror: Mirror is a San Francisco-based peer-to-peer trading platform that democratizes access to financial markets. The company leverages blockchain technology to allow individuals and businesses create and exchange smart financial contracts. Their decentralized, peer-to-peer market enables efficient ways to hedge economic and business risks at a fraction of today’s costs. Mirror is backed by Route 66 Ventures, RRE Ventures, Crosslink Capital, Battery Ventures and Tim Draper and has raised $12.8 million to date. For more information please visit https://mirror.co/.
About Route66 Ventures: Route66 Ventures provide early and growth stage venture capital (VC), growth stage private equity (PE), debt, and liquidity through loan acquisitions to emerging financial services companies. These companies include FinTech disruptors, financial services incumbents, and service providers to incumbents in the financial services space. For more information please visit http://route66ventures.com/about-route-66/.