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MIT helps SendFriend to $1.7m

Feb 14, 2019 • Callum Cyrus

Founded out of Massachusetts Institute of Technology, SendFriend has built a blockchain-powered online payment transfer platform that uses technology provided by fintech developer Ripple.

SendFriend, a US-based provider of blockchain-powered remittance services spinout of Massachusetts Institute of Technology, obtained $1.7m on Monday in a round backed by the institute’s research centre MIT Media Lab. Financial services firm Barclays also took part in the round alongside fintech developer Ripple and Mahindra Finance, a subsidiary of conglomerate Mahindra Group, as well…

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Global University Venturing (GUV) is where tech transfer, academic and investment experts meet to explore the latest ideas and technologies driving innovation forward. We drive the discussions and share best practices that are critical to the success of spinouts, scaleouts and innovation programmes. Our aim is to help improve the processes of bringing innovations from academia to global markets and facilitate their integration into the broader business ecosystem.