[Funding alert] Vilnius-based Axiology Secures €2 Million in Funding

Thursday 8, 2024 | By Startup Rise EU

Vilnius-based Axiology secures €2 million in funding. Together with accredited business angels and angel syndicates, Baltic Sandbox Ventures and Coinvest Capital, an early-stage venture capital fund, co-led this round.

Vilnius-based Axiology secures €2 million in funding. Together with accredited business angels and angel syndicates, Baltic Sandbox Ventures and Coinvest Capital, an early-stage venture capital fund, co-led this round.

In order to establish Axiology as one of the first tokenized financial securities infrastructures in the EU, the investment will be utilised to construct a fully functional, regulatory-compliant infrastructure.

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The startup was financed by angel investors, Baltic Sandbox Ventures, and Coinvest Capital, under the direction of Dr. Marius Jurgilas, a former board member of the Bank of Lithuania.

The inventor of Axiology and former central banker Dr. Jurgilas has noticed that excessive operating costs in the financial sector make it difficult for businesses to borrow money and place a burden on small investors.

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He clarified that Axiology aims to lower costs related to issuance, trading, settlement, and reporting by utilising cutting-edge technology to leverage new EU rules. This would improve the EU capital market for both individual investors and enterprises.

Dr. Jurgilas said, “Axiology can be used for various purposes, and one of them can be direct financing by regular citizens for any cause they care about, For example, one of the first use cases we are considering relates to the defense needs of Lithuania. Our infrastructure would allow citizens to make direct financial contributions towards the safety of our country. This would be an alternative to higher taxes or increasing the foreign debt of our country. In principle, it can facilitate any ESG financial initiative.”

Tokenizing government bonds is the first use case for Axiology, which aims to make these products more simply and effectively accessible to European ordinary investors. Financial institutions and their retail investors looking for better investment alternatives as well as corporate companies seeking more easily accessible funding will be the solution's primary consumers.

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Viktorija Trimbel, Managing Director of Coinvest Capital said, “We’ve been impressed by the caliber of the founding team, their expertise in the financial markets and ability to explain very complicated challenges and solutions, The ambition of Axiology founders to enable safe, efficient and affordable access to the capital markets, matching companies and investors, makes an excellent fit with the Fund’s mandate to foster development of the financing ecosystem and fill the market gaps.”

Sandra Golbreich, General Partner at Baltic Sandbox Ventures said, “Innovation fuels the future of finance. Tokenised securities are a key part of that future, both in the public and private markets. There are major technical, product, and business challenges to building toward that future, but that is also why it is a compelling opportunity for the right team to tackle it. Axiology has the ability, drive, and vision to lead this change, making finance more equitable, efficient, and transparent. We’re glad to be backing Axiology’s mission to redefine the future of the EU’s financial landscape,”.

About Axiology

Axiology is a distributed ledger technology (DLT)-based tokenized securities depository (TSD). The new base layer for sustainable securities that are tokenized. Blockchain technology is ushering in a new era of securities depositories that promises to be more efficient, safe, and transparent than current ones.

Read also - Copenhagen-based Pluto.markets Secures €2.4 Million in Funding

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