Venly (previously Arkane Network) raises an additional €500,000 from blockchain investment firm Tioga Capital.
Only a few weeks after closing €1,550,000 during the seed round led by High-Tech Gründerfonds (HTGF), Venly raises an additional €500,000 from Tioga Capital. Those additional funds will help Venly grow its client base and team of engineers.
Tioga Capital is founded in 2020 and is specialized in funding blockchain projects. Tioga is, as a first Belgian shareholder, joining the Flemish investment company PMV, who provided funding during the first round as a firm believer of Venly’s added value in blockchain technology.
“Blockchain technology has pioneered in use cases related to money / store-of-value (e.g. Bitcoin), after which it has also started to reshape (parts of) the traditional financial ecosystem (DeFi). Now, blockchain is also moving to the non-financial realm, where non-financial assets are moving to the blockchain world. A whole new digital / virtual economy is growing, powered by blockchain payments and where blockchain secured goods are circulating.
This new virtual and digital economy has the potential to grow over the next generation into one of the biggest economic systems since the 4.5BN people that are online will start participating in this economy. A key enabler to drive this new virtual economy is the NFT technology. In order to power this new economy, the blockchain complexity needs to be abstracted away from the user experience. This is where Venly comes in. Venly is a B2B focused service provider that offers a suite of products to (game) developers which allows them to easily start using blockchain technology (NFT), without requiring any blockchain knowledge. The Venly team have a good understanding of this space, and are well positioned to build a world class company.”
— Patrick Van de Mosselaer, founder Tioga Capital.
About Tioga Capital
Tioga Capital is a European Venture Capital fund focused on Blockchain Technology, more particularly on early-stage opportunities (late seed, early A) in the infrastructure layer. Tioga is led by Michiel Lescrauwaet, Olivier Lefebvre, Nicolas Priem and Patrick Van de Mosselaer. Besides having Jürgen Ingels (SmartFin) on their investment committee, Tioga also counts Bart Preneel (Professor KU Leuven, head of COSIC), Stijn Bijnens (CEO Cegeka), and Alex Pruden (ex- partner at Andreessen Horowitz) on its Advisory Board. Tioga backs exceptional founders and blockchain protocols that bring us closer to a world of more individual sovereignty, trust, and privacy.
About PMV
PMV is a do and dare company that is shaping the future of the Flemish economy. It provides funding for promising companies businesses, from the day they first open their doors, through their various growth stages and even on to operating internationally. Working with and for the government and other partners, PMV implements projects that are important for prosperity and wellbeing in Flanders. PMV is convinced that entrepreneurship is crucial for the development of a prosperous future for Flanders and everyone who lives there. It firmly believes that every promising enterprise project in Flanders needs to find funding — but also that every business needs to be profitable in order to be sustainable. Which is why PMV and the companies and projects in which it invests must be profitable in the end.
About Venly
Venly offers users of blockchain projects digital wallets to store assets with a native solution that also works on mobile devices. Venly also recently launched the Venly Market, positioning itself as a holistic user-friendly solution to help blockchain projects scale faster and more securely. The Venly Market is the first-ever peer-to-peer NFT marketplace on Polygon. Now also supporting Avalanche and soon Binance Smart Chain and Hedera. On the Venly market, users can then trade these NFTs in a fully compliant environment. Thanks to the Venly Wallet, Market and NFT-tools, blockchain games, projects, and decentralized applications can tap into an entirely new revenue stream without having experience in blockchain engineering or a complex regulatory framework.
👉🏼 Press kit: venly.io/brand-press-kit
