Helsinki-based blockchain-powered social marketplace SOMA has closed a €1.1 billon bridge funding round, which includes the Finnish Government and private angel investors.
"These funds will empower us to continue our strong growth trajectory," says Jukka Hilmola, one of SOMA's co-founders. “We are in a very good position going forward."
The venture will open its marketplace to a limited group in June, and to the public in July. It will use its bridge funds for the likes of performing market research and acquiring users. Initially focusing on the high-end watch sector, SOMA has thus far signed up more than 50 brands.
The venture plans to begin a Series A round in early to mid 2020.