Series A funding round for blockchain start-up
Piper Alderman advised Lygon in relation to its Series A funding round, raising $12.75 million in equity.
Lygon is a first-to-market blockchain-based platform that was originally created from a collaboration involving ANZ, Westpac, Commonwealth Bank, Scentre Group, and IBM to bring a 200-year-old paper-based bank guarantee process into the digital era.
Piper Alderman advised Lygon in relation to its Series A funding round, raising $12.75 million in equity, as the company continues to rapidly expand operations in Australia and overseas. The team advised Lygon on all aspects of the capital raise, including structuring of the offer, and negotiations with the lead investors.
Justin Amos, Chief Executive Officer of Lygon, said:
“We are extremely pleased to have completed our Series A funding round, successfully exceeding our equity target of $10 million, which reflects the strong demand for our services both domestically and overseas. I’d like to thank our legal team, Piper Alderman, for its ongoing support.”