Verady, maker of Ledgible, the cryptocurrency accounting and audit platform, today announced it closed an investment round led by TTV Capital, an Atlanta-based, early-stage venture capital firm focused exclusively on investing in FinTech companies. The investment in Verady adds to the robust TTV financial technology (FinTech) portfolio.
Verady is a FinTech startup in the Advanced Technology Development Center’s ATDC Accelerate portfolio of companies.
The round also includes strategic partner Fenbushi Capital as well as Pamela Joseph, named one of the most influential women in payments. Verady will use the investment to further its business operations around its category leading Ledgible platform which enables the accounting, reporting, and verification of crypto assets.
“We believe that Verady’s Ledgible Platform for the accounting, verification and audit of crypto assets is a critically needed resource for the ecosystem and bridges the gap between blockchain assets and traditional financial reporting,” said Sean Banks, partner at TTV Capital.
Verady is continuing to expand integrations of Ledgible to all major accounting platforms. These integrations allow business customers and accounting professionals to leverage the Ledgible platform to account for Bitcoin and other crypto holdings such as stablecoins within their current accounting ecosystems. Verady’s founders pioneered verification of cryptocurrency assets beginning in 2014 by partnering with (ATDC 2019 programming sponsor) Aprio, a top 100 accounting firm that later became one of Verady’s first investors.
“We are focused on providing the best services, tools, and capabilities available to meet the accounting and verification needs surrounding cryptocurrencies and blockchain assets. This strategic investment from TTV further validates our mission and supports our business development goals,” said Verady CEO Kell Canty.
“Having strategic investment from both the cryptocurrency side and the traditional Fin tech industry truly shows the need for the bridge between these two worlds that we have built at Verady,” he added.
Verady provides cryptocurrency accounting, reporting and verification capabilities through the Ledgible platform. Verady believes traditional accounting systems, firms, and standards are currently lacking functionality around cryptocurrencies. The Ledgible platform is the bridge between cryptocurrencies and traditional financial accounting which is needed to further their acceptance and growth. For more information about Verady please visit verady.com or follow @veradyinfo on Twitter.
About TTV Capital
TTV invests in fintech businesses that serve widely varying needs of the financial services sector and the consumers of financial products. Our team of experienced technology and financial professionals has more than 100 years of venture capital and highly relevant industry operating experience acquired across three decades and multiple economic cycles. We create value for entrepreneurs and investors by using our knowledge, experience, and relationships to help businesses grow and succeed. For more information about TTV, please visit ttvcapital.com or follow @ttvcapital on Twitter.
About Fenbushi Capital
Founded in 2015, Fenbushi Capital is the first China-based venture capital firm that exclusively invests in Blockchain-ended companies. With a mission of accelerating the inevitable future of Blockchain economy by supporting as many companies as possible, Fenbushi strongly believes Blockchain technology will play an important role in bringing much more transparency, efficiency, and robustness into the global economy. For more information, please visit fenbushi.vc.