COINSILIUM GROUP LIMITED - Coinsilium Increases Investment in Factom PR Newswire

21 January 2016

COINSILIUM GROUP LIMITED

(“Coinsilium” or the “Company")

Coinsilium Increases Investment in Factom

Coinsilium Group Limited, the blockchain technology investment and development company, is pleased to announce that it has made payment for the last available equity in the US$1.88m seed capital round of data management blockchain technology company, Factom Inc. (“Factom”).

Factom builds blockchain technology tools that maintain a permanent, time-stamped record of data.  This is used in enterprise software to simplify records management, record business processes, and address security, compliance and governance issues.  Factom's technology has the potential to disrupt the way security of data and records is dealt with in the banking, insurance, healthcare and pharmaceuticals industries, the telecom industry, and for online tangible asset ownership records and transactions.  Factom uses its core technology on a wide range of applications, including audit systems, medical records, supply chain management, voting systems, property titles, legal applications, and financial systems.

Factom has sold US$1.2m in software licenses, has over 1,500 software purchasers and has established an active developer network building new tools to integrate with Factom's technology.  Factom is a high profile company in the blockchain technology industry, was referred to in October 2015's edition of The Economist magazine, and was recently named in the Magister Advisors report released in December 2015: Blockchain & Bitcoin in 2016, A Survey of Global Leaders.

Coinsilium completed its investment in Factom's 2015 seed round by paying US$50,000 for a convertible instrument that provides the right to certain shares of Factom's equity capital at a post-money valuation of not more than US$13m.  This payment takes Coinsilium's total investment in Factom to date to US$200,000 which represents 10.6% of the US$1.9m total seed raising round completed by Factom.  Upon conversion to shares and including the earlier investment made, Coinsilium would hold approximately 2% of Factom prior to Factom's planned Series-A round.

Cameron Parry, Coinsilium's Executive Chairman, commented: “We are delighted to announce that Coinsilium has been able to acquire the last remaining part of Factom's seed investment offering, taking Coinsilium's investment to USD$200,000 in total, and together with other co-investor funds introduced, the total Coinsilium has facilitated is approximately one-third of Factom's US$1.9m seed raise.  It is noteworthy that Factom has already generated significant revenues and as corporate advisor to Factom, we eagerly anticipate working with them on their planned Series A round to continue their platform development and revenue growth.”

Peter Kirby, Factom's CEO and co-founder, commented: “Coinsilium was the first investor who really got Factom and recognized the value of Data on the blockchain. They committed funds early in our seed round and brought additional investors to the table. We have a deep belief that blockchain technology can make the world a more transparent and honest place while creating tremendous value. We’re excited to have like-minded investors on our team.”

Further information about Factom can be found at www.factom.org

The Directors of Coinsilium Group Limited take responsibility for this announcement.

For further information please visit www.coinsilium.com or contact the following:


Cameron Parry                  Coinsilium Group Limited   +44 (0) 207 099 0740

David Coffman / Asha Chotai    Daniel Stewart & Company   +44 (0) 207 776 6550
                               (Corporate Adviser & Joint
                               Broker)

Nick Emerson / Jake Nixon      SI Capital Limited         +44 (0) 1483 413 500
                               (Joint Broker)

Josh Royston / Hilary Buchanan Alma PR                    +44 (0) 7515 805 218
                               (Public Relations)



Notes to Editor

Coinsilium is a London-based blockchain technology focused investment and development company, supporting early-stage blockchain companies through investment, acceleration, development and education. 

Coinsilium is the world's first blockchain technology focused company to be admitted to trading on an Exchange Regulated Market and has a portfolio of interests in blockchain companies and projects.  In addition to pursuing its investment strategy, through the experience of the Directors and management team, Coinsilium is able to offer a suite of services including corporate/business advisory, CPD accredited training & education, investment solutions, in-house development and other professional services to blockchain/fintech companies and major corporates wanting to learn more about blockchain technology and its implications to the way the world transfers value over the internet.

For further information please visit http://www.coinsilium.com/