Blockchain specialist Axioni has closed a $32 million Series B financing round, led by Goldman Sachs and Nyca Partners.

The new funding, which brings the total investment in Axioni to over $55 million, will be used to enhance its data synchronisation technology, expand its suite of infrastructure products and broaden the network of enterprises leveraging distributed ledgers.

Founded in 2013, Axioni has deployed its blockchain solutions through partnerships with investment banks, asset managers and market infrastructure companies. Notably, it has earned the role as the industry’s choice to re-platform the system underpinning the legal records, lifecycle events and cash flow calculations for the $11 trillion credit derivatives market.

“Our strategic partners have been critical to our success so far; we are delighted to strengthen and expand those relationships with this financing as we continue to deploy Axoni’s technology,” said Greg Schvey, chief executive of Axoni.

Ashwin Gupta, managing director of Goldman Sachs, added: “Axoni has established itself as a market leader in enterprise blockchain, delivering solutions that can be used at scale across financial markets. We are pleased to work with them as they execute their strategy.”

The funding round also included participation from Andreessen Horowitz, Citi, Coatue Management, Digital Currency Group, F-Prime Capital, Franklin Templeton Investments, J.P. Morgan, NEX Group, Wells Fargo and Y Combinator.

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