Koinify raises $1 million from IDG and Brock Pierce

Source: Koinify

Here at Koinify, we are the world's first crowdfunding platform for decentralized applications - and are proud to announce that we've raised an additional $1M from IDG Capital Partners, zPark Ventures, Brock Pierce and his AngelList syndicate, and Danhua Ventures.

Combined with its previous seed investment led by Zhenfund / Sequoia China and Ceyuan Ventures, Koinify has raised a total of over $1.4M.

"Right model. Right time. Tom Ding is a star." says Brock Pierce, a well-known Bitcoin investor in this round, and also a board member of the Bitcoin Foundation.

"This additional funding round signals excitement and interest from the investment community in the new wave of the decentralized economy revolution." said Tom Ding, Founder and CEO of Koinify. "The extra funding will primarily be used to continue development of a secure and extremely user friendly funding platform, as well as to evangelize decentralized application development."

Tom Ding, formerly of eBay/PayPal and Alibaba, is the founder of the company - with Dario Mutabdzija, former co-founder and CEO of Blueseed, listed as the co-founder. With their deep experience in the FinTech and legal fields, the two co-founders have brought together a development team headquartered in Mountain View, California.

"We have always been looking for really ambitious and radical ideas to disrupt the inefficient legacy system." said Ding, "The blockchain and smart contract technology allows developers to essentially replace the classic hundred year old corporate monopoly with lines of code. This simply wasn't imaginable before the Bitcoin era, without significant counterparty risk."

We will be launching our platform soon, with our first project still under wraps.

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