OB1 Raises $3M Funding


By FinSMEs

OB1, a peer-to-peer trade community, raised $3M in funding.

Backers included BlueYard, Union Square Ventures, and Andreessen Horowitz.

The company intends to use the funds to continue improving the open source software and growing the peer-to-peer trade community.

Led by CEO Brian Hoffman, OB1 is a peer-to-peer trade platform building on the OpenBazaar software and offering their own services to users on the network.
The company previously raised a $1m seed round from Union Square Ventures, Andreessen Horowitz and angel investor William Mougayar in May of 2015 in order to build and launch OpenBazaar, a decentralized marketplace that allows anyone in the world to buy and sell anything to anyone else, anywhere, for free.

The peer-to-peer software is not controlled by any company or organization, allowing its participants to engage in trade directly with each other using Bitcoin.

First appeared at FinSMEs