AngelList's ICO "Spin-off" CoinList Raises $9.2 Million In Series A Funding Round

  • Coinlist's Series A drew in $9.2 million
  • Coinlist is now using the money to start its Blockchain-based securities service
  • The company represents a way of solving regulatory nightmares for ICO's 

The amount of controversy surrounding initial coin offerings (ICOs) across the world has caused polarisation among the international community. It's this regulatory uncertainty that makes the success of AngelList's ICO 'spin-off', CoinList, even more exceptional.

During its time being incubated by Angellist, CoinList was successful in completing its series A funding round for $9.2 million. According to the company's owner, the fresh capital will go towards an additional crypto exchange. This one, aimed at the blockchain-based securities market.

The company's press release notes that CoinList's $9.2 million figure includes funds previously raised from venture capital firms, including Accomplice, the Digital Currency Group, Coinfund, and Electric Capital, among others.

What Is CoinList?

The problem that ICOs have is that their companies have to divide attention between their product, and maintaining compliance with shifting regulations. CoinList is positioning itself as a platform for companies and engineers. particularly those looking to develop a token for their business.

To ensure startups can focus on their projects, CoinList conducts anti-money laundering (AML) and know your customer (KYC) checks for them. In the past 12 months, the projects using ConList's platform reportedly raised over $435 million, with Filecoin's ICO standing out after raising nearly half of that amount by itself.

With the technology and means of managing over $850 million in assets, CoinList is providing a method of delegating responsibilities of maintaining regulation, financial management and compliance. The company acts to take the logistics of ICO crowdfunding out of the hands of companies that may feel inadequately equipped to deal with certain issues. 

The company's co-founder and CEO, Andy Bromberg, stated in a press release:

“Now more than ever, companies raising money through an ICO need a platform partner that knows the intricacies of execution and regulation. CoinList provides even more integrity to the startups that have already distinguished themselves, and comfort to the accredited investors that want to commit to [B]lockchain technology."

Andy Bromberg

While serving to prevent more fundraising efforts from companies falling into the Securities and Exchange Commission's (SEC) blacklist. CoinList, through its successful series A funding round, will be able to function as a platform for investors looking to safely buy tokens.