Lygon uses blockchain and smart contract technology to digitise transferable financial documents and assets. Its first product is a first-to-market solution for bank guarantees that converts the paper-based guarantee process into a digitised, smart workflow, reducing time and removing human intervention for issuers (banks), beneficiaries (property owners) and applicants (retailers). The company positions this product as a pathway to capture a material portion of the Australian bank guarantee market, where roughly 400,000 guarantees are in circulation. Lygon's management team includes CEO Justin Amos, Rodolf Salem and Simon Townsend, who bring experience in financial services and digital assets. Strategic backing from incumbent banks and corporates supports go-to-market traction and positioning ahead of a planned Series A later this year. The recent financing deepened the company's funding as it prepares for that next round.

Total raised

$4M

Funding rounds

1

Latest round

Series A

Latest activity

Aug 2021