Blockchain-as-a-service (BaaS) provider, Tatum has landed $41.5 million in financing, receiving the necessary capital backing to expand its commercial offerings.

Building on his current track record in the industry, Tatum’s funding was handled by Equity Partners with support from other big-name venture firms including Octopus Ventures, 3VC, Tensor Ventures, Depo Ventures, Leadblock Fund, Circle and the founders of Bitpanda.

The valuation of the startup was not disclosed, however, judging by the current level of adoption of its offering, Tatum has certainly carved a niche for itself in the blockchain world. The platform helps developers reduce time and hassle and shorten the time with which they develop and launch new blockchain applications.

The simplification solution provided by Tatum is currently being used by 90,000 customers, and the firm said it gets an average of 7,000 new customers per month.

“Blockchain has proven essential to the explosive growth and widespread innovation of digital finance and Web 3.0,” said Jiri Kobelka, co-founder and CEO of Tatum. “Tatum is the first company to directly address the complexities, requisite technology expertise, and long development times that blockchain applications require. We have revolutionized the creation of blockchain applications by reducing development times from months or years of engineering time to just days.

With the new injection of capital, Tatum said he will put additional focus on his marketing, educational focus and building his community. The startup will also be looking to develop new capabilities, as it was able to complete its platform when it previously secured $8 million in funding from investors.

With more developers making their way into the Web3.0 ecosystem, Tatum’s role is becoming an important consideration for most innovators. In all, Tatum looks to use the capital drive to continue to be the go-to platform for both Fortune 500 companies and startups looking to make their way into the Web3.0 world.

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