U.S based online payments giant—PayPal, has recently made it first blockchain technology-related investment. According to the report announcing the investment, PayPal reportedly joined the extension of a Series A funding round in Cambridge Blockchain.
Amount invested by PayPal not Yet Disclosed
This is a startup focused on helping financial institutions and other companies articulate and manage sensitive data using shared ledgers.
Although the amount invested by Paypal into the startup has not been disclosed yet, a recent filing with the financial watchdog, SEC revealed that the startup has raised a total of $3.5 million in new equity from several investors over the past nine months.
Going by this number and the $7 million close of its Series A in May of 2018, the startup has raised a total capital of about $10.5 million.
That first $7 million is broken down into two parts. The first part is $4 million of new capital while the second portion is $3 million of converted notes, which originated from several investors, including…