Bluzelle nabs $1.5m in Series A round

Singapore-based blockchain database platform Bluzelle has reportedly nabbed $1.5m for its Series A financing round.

Contributions to the round came from Global Brain, LUN Partners Capital and True Global according to various reports in the media.

The Bluzelle blockchain platform can be used for various sectors, with it currently used for KYC, payments and insurance. The KYC application allows users to access a shared ledger which distributes KYC information across banks, it also gives access to a common screening standard and up-to-date customer information.

Within the payments sector the platform helps users make international transactions, by authenticating the process and handling the currency exchange, while also creating an audit trail. Bluzelle is also able to help with the back-end insurance claim management, with the policy holder taking pictures of medical receipts and uploading them to the platform, where they are verified.

This latest injection of capital will be used to scale the company’s business, platform and its developer community, the articles report.

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