Brassica raises $8 million and obtains a Wyoming Trust Charter

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Brassica Technologies Inc., a newly launched financial infrastructure technology company developing enterprise solutions for the new era of alternative assets, announced the completion of its $8 million seed round today.

Mercury Fund led the round, with Valor Equity Partners, Long Journey Ventures, NGC Fund, Neowiz, Broadhaven Ventures, Armyn Capital, VC3DAO, Alpha Asset Management, and other global FinTech investors joining. The seed funding brings Brassica’s total capital raised to date to more than $12 million.

Furthermore, the Wyoming State Banking Board granted a Trust Charter to the Company’s wholly-owned subsidiary Brassica Trust Company.

Brassica will become a “one-stop shop” for the alternative assets industry by providing multiple distinct but related financial infrastructure services via API, with institutional-grade backend solutions that can seamlessly integrate with any platform’s native UX/UI preferences. Brassica, by combining proprietary technology and one-of-a-kind regulatory licenses, enables clients to build their businesses securely and efficiently on a modern, flexible backend infrastructure rather than relying on outdated, manual, and fragmented vendor systems.

Traditional financial institutions and legacy vendors are ill-equipped to serve the evolving private investing and digital assets industry, which is characterized by an ever-changing regulatory environment and a widespread lack of trust in financial markets.

Brassica was founded in 2021 by highly experienced entrepreneurs and FinTech executives Youngro Lee (CEO) and Bob Dunton (CTO), who were previously co-founders of NextSeed, a FinTech startup that received the first SEC Funding Portal license and closed the first-ever Regulation Crowdfunding offering in 2016 under Title III of the JOBS Act.

Mr. Lee is also the EVP and Head of Asia at Republic, a leading FinTech & blockchain solutions firm that runs the world’s largest private investment marketplace, which acquired NextSeed in 2020.

Brassica’s leadership team is made up of senior executives who have spent decades working in FinTech startups, financial institutions, and global law firms such as Republic, Cleary Gottlieb, Kirkland Ellis, Morgan Stanley, Custodia Bank, LedgerX, Prime Trust, JP Morgan Chase, and M1.

Brassica is a FinTech startup that is creating institutional-grade solutions for the new age of private investing and alternative assets. Our comprehensive back-end banking and investment infrastructure as a service offers a variety of embedded financial tools and highly regulated services to assist enterprises in building compliant and scalable businesses while protecting their customer assets.

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