Australian law firm, Piper Alderman, has advised Lygon in relation to its Series A funding round, raising $12.75 million in equity, as the company continues to rapidly expand operations in Australia and overseas.
Lygon is a first-to-market blockchain-based platform that was originally created from a collaboration involving ANZ, Westpac, Commonwealth Bank, Scentre Group, and IBM to bring a 200-year-old paper-based bank guarantee process into the digital era.
Lygon’s Chief Executive Officer, Justin Amos, said:
“We are extremely pleased to have completed our Series A funding round, successfully exceeding our equity target of $10 million, which reflects the strong demand for our services both domestically and overseas.
I’d like to thank our legal team, Piper Alderman, for its ongoing support.”
The Piper Alderman team led by corporate partner, Sina Kassra, supported by blockchain partner, Michael Bacina, advised Lygon on all aspects of the capital raise, including structuring of the offer, and negotiations with the lead investors.
Sina and Michael were assisted by Tax Partner, Alan Jessup and corporate senior associate, Bahar Agar.
Commenting on the capital raise, Sina Kassra said:
“It has been a pleasure working with the Lygon team and Bishop & Fang to close out its Series A. We are excited to see the growth and successes of Lygon over the coming years.”
Piper Alderman has been working with Lygon since 2021 on a number of projects, including the pre-Series A funding round.