Blockchain HELIX AG, a pioneer in the field of Digital Identity (DI) is developing a platform that increases data quality, reduces operating costs and mitigates risk in Know Your Customer (KYC) and Anti Money Laundering (AML) processes through the utilization of blockchain technology. The company now has received a seven-figure investment from the FinLab EOS VC Fund, a venture capital fund backed by both Block.one, the publisher of the Blockchain protocol EOSIO, and FinLab AG, one of Europe’s largest company builders and investors focused on financial services technologies. The FinLab EOS VC Fund invests across sectors and focuses on projects delivering value through the application of the EOSIO Blockchain technology.
Blockchain HELIX will use the funding to continue developing its blockchain-based solution, HELIX ID. HELIX ID covers all aspects of a sustainable and legally compliant DI Platform fulfilling the mandates of the General Data Protection Law (GDPR). Users receive a trusted DI in the ecosystem, which is then used for any interaction with other parties. Institutions can outsource KYC and AML checks and get access to a pool of trusted and valuable identities.
The first application of the HELIX ID Platform will be HELIX for EOS (working title) that aims to create a high trust environment for investment and innovation in EOS-related projects. As a first entry point into the EOS community Blockchain HELIX wants to provide the community site HELIX for EOS as the go-to starting point for all members of the ecosystem. “With the FinLab EOS VC Fund, we included an investor that provides us further value-add through their network and know-how. This will enable us to realize our vision a lot faster by rolling out our platform and services over the coming months,” says Oliver Naegele, Founder and CEO of Blockchain HELIX.
“We are glad to welcome Blockchain HELIX as a new investment in our portfolio,” says Stefan Schütze, Managing Director of FinLab EOS VC Fund. “The demand and requirement of DI both from individual as well as organizational standpoint is higher than ever. Through its blockchain-based identity solution, Blockchain HELIX provides a digital footprint and furthermore offers regulatory compliant KYC and AML services, while the users retain full control of their private data. We see great potential in the company’s DI solution and we are looking forward to support Blockchain HELIX in developing and scaling their technology.”
About Blockchain HELIX AG:
Blockchain HELIX AG is a German Blockchain startup, developing HELIX ID as a Digital Identity solution for citizens and enterprises to create a trusted and secure digital economy and society. Blockchain HELIX’ goal is to become the world’s leading Digital Identity provider.
About EOS VC:
block.one’s EOS VC program offers developers and entrepreneurs the funding they need to create community-driven businesses leveraging EOSIO. It provides support directly and through venture capital partnership funds with the primary aim being to achieve sustained utilization of the EOSIO ecosystem by investing in a concentrated and diversified portfolio of blockchain-focused companies building on the EOSIO software.
The EOS VC initiative is also dedicated to fostering a global network of individuals from a number of disciplines through block.one’s community engagement events. As part of the mission and vision, EOS VC engages with the blockchain developer community on a regular basis.
About FinLab AG:
Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A.GR) is one of the first and largest European company builders and investors focused on the Financial Services Technologies (“FinTech”) sector. FinLab focuses on developing German FinTech startups and providing venture capital for their financial needs, whereby in each case the aim is a long-term participation and ongoing support of the investment. FinLab also invests globally, as part of venture rounds, in FinTech companies, primarily in the USA and Asia.