Korean FinTech startup FirmaChain recently announced on October 29th that it has secured investment from Blocare, an investment arm of Gameberry, a global marketing and an advertising company.
FirmaChain is the developer of Stabledocs, an electronic contract solution, which utilizes blockchain technology to enhance the security of electronic contracts. Stabledocs are offered in Korean, English and Mandarin Chinese, effectively targeting the global market for security-enhanced electronic contracts. FirmaChain is also the issuer of FCT, a token that can be used within the Stabledocs platform to make payments when customers enter into contracts using the platform.
“We are delighted that Blocore recognizes the potential of our project,” said Young-In Yoon, CEO of FirmaChain. “The investment from Blocore will mainly be used to further develop our solution technologically and to adopt a more aggressive sales and marketing campaign towards our prospective clients.” Neither company has revealed the amount of investment.
“FirmaChain is already servicing a number of clients in the South Korean market as well as clients in the global market. We are expecting FirmaChain to drastically alter the landscape of the conventional electronic contract market by providing a security-enhanced solution using Blockchain technology,” said CEO of Blocore Lim Hyung Chul.
Blocore invests and accelerates in promising Blockchain projects all over the world. As of now, Blocore’s investment portfolio consists of a number of Blockchain projects such as Klayton and Wemade Tree which have clear user targets and ample room for mass-market expansion. And with a number of companies based in Silicon Valley and overseas venture capital funds, Blocore has established TGV, a Singapore based fund investing primarily in Blockchain related companies.