BlockSpaces, a blockchain technology development studio in Tampa, has raised fresh funding.
The company disclosed the new funding in an Aug. 17 filing with the U.S. Securities and Exchange Commission.
“We raised $75,000 by offering a convertible note opportunity capped at $75,000 to a couple of close advisors who have already demonstrated a deep commitment to our company, and who have not only witnessed the strides we have made and the opportunities we currently have in the pipeline, but helped us get to this place,” said Rosa Shores, CEO. “These funds will be used for operating capital.”
Shores co-founded BlockSpaces in 2017 with Gabe Higgins, who is senior vice president for research and development. The company, headquartered at Embarc Collective in downtown Tampa, offers blockchain consulting and education, custom full-stack software product development, technical support for enterprise, and community support for our marketplace of blockchain applications.
Blockchain is a digital information storage system. Blockchain technology stores information chronologically in “blocks” to allow for the efficient and nearly instantaneous processing and transfer of data.
BlockSpaces raised $100,000 in March, at the same time it unveiled a new operating model and management team.
BlockSpaces’ recent capital raises put it outside of trends in the broader financial technology, or fintech, industry.
The fintech industry had been growing rapidly until the Covid-19 pandemic hit, according to a new report from ForexSchoolOnline.com.
That report said fintech startups raised $8.8 billion in the first half of 2020, a 20 percent decline compared to the same period a year ago