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R3 secures 107 million USD investment for DLT

First Published 23rd May 2017

Top investors include SBI Group, Bank of America Merrill Lynch, HSBC, Intel & Temasek. Final tranche of fundraising will be opened to R3 members and non-R3 institutional investors later this year.

David Rutter, R3

David Rutter, R3

New York, London, Singapore - Financial technology provider R3 has completed the first two of three tranches in its Series A fundraising round, securing USD 107 million from over 40 institutions in what is claimed to be the world's largest distributed ledger technology (DLT) investment to date.

The first two tranches of the Series A round were made available only to R3 members, while the third and final tranche - which opens later this year - will be accessible to R3 members and non-R3 institutional investors.

R3 will use the funds to accelerate technology development and expand strategic partnerships for product deployment. The company's efforts will be focused on Corda, R3's DLT platform for regulated financial institutions.

David E. Rutter, CEO of R3, comments: "This investment is unprecedented. Many of the world's largest financial firms have come together not just with capital support, but with a robust commitment to work with R3 in developing industry solutions that will be the building blocks of the new financial services infrastructure. We've got unparalleled momentum.

R3's group of investors represents an equal geographical split across Europe, Asia-Pacific and the Americas, counting over 40 participants from over 15 countries. Investors include:

  • Banco Bradesco1
  • Itaú Unibanco S.A.
  • Bangkok Bank
  • Mitsubishi UFJ Financial Group (MUFG)
  • Bank of America Merrill Lynch
  • Mizuho
  • Bank of Montreal
  • Natixis
  • Bank of New York Mellon
  • Nomura
  • Barclays
  • Nordea Bank
  • BBVA
  • Northern Trust
  • BNP Paribas
  • OP Cooperative
  • B3 (BM&FBOVESPA and Cetip)
  • Ping An
  • Canadian Imperial Bank of Commerce
  • Royal Bank of Canada
  • Citi
  • SBI Group
  • Commerzbank
  • SEB
  • Commonwealth Bank of Australia
  • Societe Generale
  • Credit Suisse
  • Sumitomo Mitsui Banking Corporation
  • CTBC Financial Holding
  • TD Bank Group
  • Daiwa Securities Group
  • Temasek
  • Danske Bank
  • The Bank of Nova Scotia
  • Deutsche Bank
  • The Royal Bank of Scotland
  • HSBC
  • U.S. Bank
  • ING
  • UBS AG
  • Intel Capital
  • Wells Fargo
  • Intesa Sanpaolo[2]
  • Westpac