Quick take:
- The Series A round also attracted participation from VanEck Ventures, F-Prime and the Avalanche Fund.
- The company plans to use the fresh capital to enhance regulation compliance in the countries it operates in.
- Dinari’s blockchain-based platform allows non-U.S. investors to buy shares in U.S. companies.
Dinari, a tokenisation startup that allows non-U.S. investors to buy shares of U.S. companies has raised $12.7 million in a Series A round led by Hack VC and Blockchange Ventures.
The fundraising also attracted participation from VanEck Ventures, F-Prime and the Avalanche Fund, according to a report by Fortune. It brings the total raised by the Web3 startup to $22.65 million. The company previously raised $7.5 million in a seed round announced in August 2023.
Dinari said it plans to use the fresh capital to enhance regulation compliance in the jurisdictions it operates.
According to Gabriel Otte, co-founder and CEO of Dinari, his company makes investing in U.S. stocks a more viable option for people living outside of the U.S. “We’re allowing people to have access to it in an efficient way that they didn’t have before,” he told Fortune. “It can’t really be just about tokenizing one-off stocks. It has to be tokenizing every stock, eventually, and every asset.”
Dinari offers an API integration that allows Financial platforms including fintechs and digital banks to enable investing in U.S. stocks. Once integrated, users can buy shares of U.S. companies like Apple and Google, with the buyers receiving a blockchain-based token that represents ownership of the shares.
Dinari then buys an equivalent amount of the stock in the respective U.S. company to hold it, thus guaranteeing a 100% backing.
According to Otte, a majority of Dinari customers come from Latin America, especially Brazil and Argentina. The company has also been building a user base in Southeast Asia and Africa.
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