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Startup Libra received $7.8 million investment



Blockchain Libra has received $7.8 million to its crypto tax software in a new round of funding for the A Series, the company announced today.



27.Nov.17 1:27 PM
By Daria Zaytseva
Photo Toinnov.com

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Startup Libra received $7.8 million investment
The financial resources came from a group of investors, which included an unnamed family office in Europe. Also the contribution to this round, according to Libra, was the Hungarian company Liberty City Ventures, the creator of the XBTO's cryptocurrency trading and Lee Linden, an early stage investor who previously worked for Facebook.

Of that group, Liberty City is a returning investor after it invested $500,000 in the initial phase in 2014. Libra develops cryptocurrency and blockchain-oriented accounting and tax software, and the new funds will be directed to the development of its Libra Enterprise Platform, the startup said.

Founded in 2014, Libra first began offering its accounting software LibraTax, which is an early participant in the market of taxation instruments that depend on the cryptocurrency. This was the year when the U.S. Internal Revenue Service (IRS) issued a manual stating that it would consider cryptocurrencies, such as bitcoin as kinds of taxable property.

Most recently, the company has drawn attention to the corporate-level market, developing tools that are partially oriented to exchanges and other trading companies. Libra added a former chief risk officer from Siemens to its team in May as part of this campaign.



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