Vanbex secures $500K seed financing

The Vanbex Group, a Vancouver based professional services and strategic consulting firm that specializes in blockchain technologies, has raised $500,000 in seed funding with a group of private investors. Boris Mann and Adrian Jonklaas, co-founders of Vancouver-based Frontier Foundry Corp., are among Vanbex’s backers.

“We’re delighted with the level of support from investors,” said Kevin Hobbs, Vanbex Group’s chief executive officer. “We’re also very fortunate to have such high level advisors and new hires joining Vanbex to help drive us forward toward the next stage in our growth.”

Vanbex intends to use funding to accelerate development of Etherparty, a platform that will allow users with zero knowledge of smart contract programming to create an enforceable, self-executing digital agreement for all types of transactions. Etherparty is designed to make executing an Ethereum smart contract simple and easy for everyone.

“We’re excited to see Vanbex take this investment and move forward with their professional blockchain consulting services as well as grow their in-house products,” said Mann. “Both Adrian and I are looking forward to supporting more of the blockchain community here in Vancouver.”

Vanbex has also appointed Derek Spratt, a 34-year veteran of the telecommunications sector, as executive chairman, Steven Lee, a former finance and operations director at Slack Technologies, as chief financial officer, and Brian Onn as senior blockchain developer.

Vanbex was founded by Lisa Cheng, Head of R&D of the Vanbex Group, in 2013.

photo credit: Vanbex