BanQu Banks More Money For Blockchain As A Service


Minnneota tech startup BanQu is raising more money according to this SEC filing, which shows that $1.3m of a $7m equity round is sold.

The venture was formed in 2016 by Hamse Warfa, Ashish Gadnis, and Jeff Keiser to bring blockchain technology to poverty:

“BanQu is a groundbreaking for-profit / for-purpose blockchain-as-a-service software company solving the toughest global problem – Extreme Poverty. As the world’s first and only non-cryptocurrency blockchain platform—we help lift people out of extreme poverty by connecting them to the global supply chains they participate in and the brands, organizations, and governments that power them.”

In addition to a deal with ABInBev last year, Banqu claims Shell, GroFin, and MARS among its “partners” who use BanQu for supply chain and workforce management, among other applications.  In an interview late last year, Warfa suggested the company had 10 employees and had raised $3m cumulative at the time.