Blockchain Technology Provider Venly Raises 21 Million Euros in Series A Round

Venly, a major blockchain technology provider from Belgium, announced that it has secured over €21 million (USD$23 million) in Series A funding.

This round was led by Courtside Ventures with participation from Transcend Fund, Coinbase Ventures, Tioga Capital, High-Tech Gründerfonds, Fortino, Plug and Play, Leadblock Partners, Imec Istart, Powerhouse and Alpaca VC. Venly will use the funding to develop products centered around new benefits to Web3 users, with a close focus on gaming as well as eCommerce.

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Venly creates powerful tools and products empowering Web2 businesses to leverage Web3 technology and integrate it seamlessly into their own business processes without sacrificing user experience or security.

In the coming months, Venly will focus on hiring top talent to continue spearheading innovation, as well as striking new partnerships with industry players. On the tech side, Venly will be incorporating robust gaming SDKs (Software Development Kits), making gaming its most immediate focus due to fast scaling opportunities. Next, the company will be further developing its marketplace for next-level user experience. By fortifying eCommerce integrations (such as the one that allows Venly users to sell NFTs through Shopify), Venly is signaling its clear focus on eCommerce in the long run.

On the operations side, Venly will also be launching the VENS Token, an internal token to drive loyalty and engagement of the Venly Market users. It will also continue to work hard to keep meeting global compliance requirements.

"The problem today is that most developers and end-users have difficulty interacting with Web3 technology. It needs to be more aligned with Web2 usability, which is exactly what the Venly platform provides. Our APIs and services allow a Web2 company to seamlessly integrate with Web3,"said Tim Dierckxsens, CEO of Venly."Moreover, we want to focus on our marketplace for the mainstream users. The Venly NFT marketplace is easier to use than any other platform out there."