Fractal Blockchain » Fractal Raises Seed Financing and Announces Plans to Open up its Services

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Fractal Raises Seed Financing and Announces Plans to Open up its Services

August 31st, 2018

Only ten months into its foundation and during a turbulent market,blockchain technology company Fractal was able to gain the support and backing of an unusual, but well-known pair of institutional investors: innogy Innovation Hub and coparion.

Fractal builds user-centric and compliant identity and payment solutions for the decentralized web and supports open source blockchain projects to fund the future ecosystem using an initial token launch. Fractal plays a major role in moving ICOs out of the regulatory grey area and helps make the ICO investment process frictionless.

“We want to serve entrepreneurs on their journey to build and fund open source decentralised protocols”, says Fractal’s CEO Julian Leitloff. “The Seed Round lets us invest in better tools to help them”. Fractal plans to invest deeper into its software solutions for identification and payment. Making worldwide compliance look simple and easy-to-use is a costly endeavour.

innogy Innovation Hub is one of Europe’s most active and earliest corporate investors in the blockchain space with an extensive portfolio. “Our investment in Fractal fully supports our Machine Economy strategy which envisions a global economy where every analogue asset – solar plants, charging poles and patents can be tokenized and traded. We believe Fractal has the potential to enable this transition to a tokenized economy in a legal and safe way with their high-quality, end-to end ICO Launchpad”, says Kerstin Eichmann Head of Machine Economy Investment Strategy at innogy Innovation Hub.

With 225m EUR under management, coparion has recognized the full potential of the European blockchain scene. Few people know that coparion is fueled by the European Recovery Plan (known as the Marshall Plan) and has become a large backer of the blockchain ecosystem. “The blockchain technology has the potential to change the financial system, but it needs to grow out of its infancy”, says Christian Schulte, Investment Professional at coparion. “With its focus on compliance, Fractal provides an important service to the scene.”

Fractal is also excited to launch its latest service: Fractal ID. Available as an open Authentication (oAuth) kit for web and app developers, Fractal ID will allow users to log in with one click and instantly share a custom slice of their ID data with a trusted transaction partner.

Registration and usage of the service will be free, and can be used for sharing identity and payment information with a third party or, alternatively, to log in to their favorite DApp. “Fractal will be the first vendor to bridge the gap between identities on the web and blockchain. For example, Fractal can link a Facebook profile with a Sovrin decentralized ID and an official driver’s license”, says Fractal’s CTO and Co-Founder Julio Santos. “We aim to keep it free as long as possible”. Fractal is also part of the recent ERC725 Alliance that aims to establish an OpenID standard.

Fractal was founded in October 2017 and has offices in Berlin and Porto. The company currently has 24 employees. Having recently expanded to Singapore and joined the German Accelerator in South-East Asia, the company is making a sizable impact on the blockchain scene. “It is a paradigm change – blockchain technology is a global phenomenon and people everywhere are excited,” says Managing Director Nele Wollert. “We embrace that and want to include people from all around the world”.

Further Coverage

(EN) Fractal: Building a decentralised shared economy [innogy Innovation Hub]

(DE) Innogy und Coparion investieren in Berliner Blockchain-Startup [Gründerszene]