Fintech Company R3 Raises $107 Million

R3 announced the completion of $107 million in financing from an extensive list of investors and financial institutions, including Intel Capital, Bank of America, Wells Fargo & Co., Barclays, The Bank of New York Mellon, Citibank, U.S. Bancorp, HSBC, and UBS.

R3 is a consortium partnership with more than 50 of the world’s leading financial institutions. The company designs and delivers advanced distributed ledger technologies to global financial markets. It collaborates with its partner institutions on research, experimentation, design, and engineering, propelling the end users of this new technology into the design and production process from the outset.

R3 said it would put its latest funding toward the continued development of Corda, the firm’s spin on a blockchain.