Dinari, a cryptocurrency startup specializing in the tokenization of real-world assets, has announced a successful $12.7 million Series A funding round. The investment was spearheaded by Hack VC and Blockchange Ventures, with additional backing from VanEck Ventures, F-Prime, and the Avalanche Fund, according to a Fortune report. This latest injection of capital brings Dinari’s total funding to $22.65 million.
The California-based firm enables other companies to offer their users access to shares in prominent U.S. companies and funds through its dShares. These digital tokens are reportedly backed on a one-to-one basis by real shares acquired and held by Dinari. The company generates revenue through a subscription fee for access to its API, which it states has seen significant demand from Latin America, particularly Argentina and Brazil, alongside increasing interest from Africa and Southeast Asia.
Dinari intends to utilize the newly acquired funds to strengthen its compliance measures within its operating markets. While the company confirmed it is currently generating revenue, specific financial figures were not disclosed. Dinari was not immediately available for further comment. The company’s dShares aim to provide non-U.S. investors with easier access to the U.S. stock market.
