The developer of decentralized economy application from Detroit – Totle – managed to get $1 million in investments during the closed funding round. The key investors were Arrington XRP, NEO Global Capital, and Goren Helm Ventures.
Totle developed an application programming interface (API) that enables cryptocurrency services (like EtherDelta and RadarRelay) to provide a number of trading functions, including payments, transactions, arbitrage exploration. Moreover, Totle is aiming to lend support to other various decentralized platforms.
According to the company press release, the received funds will be "to accelerate global growth in the B2B space and expand solutions offered, including native wallet integrations and swap widgets". Besides, Totle also plans to expand the developing team, believing that more developers will enable the project to be able to draw in more customers from the business. Moreover, the company's API is said to be actively applied already now.
Totle managed to attract investors by an opportunity to improve the pricing while buying or selling across borders, an Arrington XRP representative believes. The team’s flexibility was among the reasons for Arrington XRP to invest as well. Even though Totle had been working on a decentralized application with a business-to-consumer focus, it managed to shift to the business-to-business API base amid the market demand.