Australia’s Chrono.Tech nabs $30m

Australian blockchain technology developer Chrono.Tech has pulled in $30m for its latest investment, as it looks to bolster its offering.

Mark Carnegie, an Australian venture capitalist, led the round alongside an unnamed European family office.

With this capital boost, the company hopes to scale and develop its services and products offered to the HR and crypto payroll sectors. Funds will also be used to bolster its efforts in the workforce management space.

Founded in 2016 by Sergei Sergienko, Chrono.Tech designs tailored products that help companies establish convenient payment gateways in cryptocurrencies and help find freelancers happy to be paid through crypto. In the future, the company plans to release functions to make services and interactions safer and easier.

Carnegie said, “Crypto assets can be highly complex and obscure, and operate on a very different paradigm to the centralized financial sector — not least in terms of secure storage.

“Sergei has a strong network in the crypto community and extensive experience in identifying crypto initiatives that provide an excellent balance of risk and return, making him a natural addition to the team.”

There has been multiple cryptocurrency focused FinTech companies to have closed funding this month. Most recently, Onramper, which offers crypto and fiat payment technology, secured $6m in its seed round.

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