Everledger Closes $20M Series A Led By Tencent


Everledger wraps up Series A to build transparency, traceability and sustainability into global supply chains.


LONDON, UK – Media
 – 24 September 2019 – UK-based technology company Everledger
announced today that it has completed its USD20 million Series A funding. The
round comes to a close with the backing of Tencent Holdings Ltd, China’s
leading internet-based services provider. Graphene Ventures, Bloomberg Beta,
Rakuten, Fidelity and Vickers Venture Partners have also participated.


Leanne Kemp, founder and CEO of Everledger,
said: “Today’s announcement amplifies our commitment to global markets, whilst
fuelling our industry momentum as we continue to build Everledger. Having this
strong investor cohort join us at this stage in our development is both
validation of the innovation we’ve displayed to date, and a statement of future
intent. They will support us in bringing more visibility to good business practices
in industries that impact millions, if not billions of people in developing


“Everledger’s application of blockchain
technology enhances value to consumers and reduces risks for businesses across
the industry”, said James Mitchell, Chief Strategy Officer at Tencent. Mr
Mitchell added: “We are delighted to support Everledger to improve the
transparency and sustainability of global supply chains.”


“Everledger is very well positioned to
increase transparency in supply chains”, said Nabil Borhanu, Managing Partner
at Graphene Ventures. “This investment marks an incredibly exciting addition to
our cohort of talented technology organizations, such as Lyft and Snapchat, and
an important step towards more sustainable practices in complex supply chains.”


Tencent’s mission to improve the quality of
life through Internet value-added services is already an integral part of
Everledger’s business model. Everledger’s purpose is to contribute greater
clarity and confidence in the marketplaces where transparency is a strategic
imperative. This allows for ever more knowledge and sustainable business
practices, as information is surfaced in an unprecedented way. Tencent is now
represented in the Everledger board.


Ms Kemp emphasised the potential synergies of
the partnership with Tencent: “Everledger and Tencent are a natural fit. We
share strategic synergies including several solutions that are part of their
ecosystem. As an example, we will launch the world’s first WeChat Mini Program
for blockchain-enabled diamonds, uniting key stakeholders in the diamond value
chain, which aims to empower WeChat users to buy jewellery with more
transparency and security. In particular, we are excited to see how this new
partnership with Tencent will help to strengthen and extend our developments in
China and contribute to other potential partnerships.”


Spokesperson headshot and bio: www.everledger.io/press-room/media-assets

About Everledger:

Founded in 2015, Everledger is an independent
technology company helping businesses surface and converge asset information, using
a symphony of secure technologies, including blockchain, artificial
intelligence, intelligent labelling and Internet of Things. Our purpose is to
contribute greater clarity and confidence in marketplaces where transparency
matters most.


We digitally streamline
our clients’ compliance processes, to help them demonstrate the lifetime story
of an asset with greater efficiency and accuracy. As technology partners, we
also support in powering resilience and sustainability. With information out in
the open, we believe the value of many industries — from diamonds, to fine
wines, to e-waste lifecycle management — will be shared by all stakeholders
throughout the value chain.


By working with
Everledger, stakeholders such as producers, manufacturers, certification houses
and retailers can further evidence the origin, ownership and characteristics of
their assets to increasingly more conscientious consumers. And consumers can
have access to all this information on any device, from desktops to


Founder and CEO
Leanne Kemp is an acclaimed entrepreneur and prominent figure in the technology
sector, having just been appointed for a second term as Chief Entrepreneur of
Queensland in Australia. Ms Kemp co-chairs the World Economic Forum’s Global
Future Council on the Future of Manufacturing and takes part in the Global
Future Council on Blockchain. She also leads workstreams at the Global
Blockchain Business Council and co-chairs the World Trade Board’s Sustainable
Trade Action Group. She has recently joined the board of PACT and has been
nominated an Adjunct Professor of Queensland University.


Everledger has been nominated a Technology
Pioneer by the World Economic Forum in 2018.


For more information, visit: www.everledger.io


WeChat ID: Everledger

Background information for editors:

According to the Asian Development Bank, there
is currently a $1.5 trillion gap between the market demand and supply of trade
finance, with a particular impact on SMEs, which are the prime catalyst of
financial inclusion in wider society. This gap may rise to $2.4 trillion by
2025 — unless supply chains can find a different way of channelling funds to
meet demand. New digital technologies offer that alternative, especially
distributed ledger technology. Bain & Company predicts that blockchain
could help reduce as much as $1.1 trillion of this trade finance gap over the
next decade.

About Tencent:

Tencent uses technology to enrich the lives of
Internet users.


Our communications and social platforms,
Weixin and QQ, connect users with each other and with digital content and
services, both online and offline, making their lives more convenient. Our
targeted advertising platform helps advertisers reach out to hundreds of
millions of consumers in China. Our FinTech and business services support our
partners’ business growth and assist their digital upgrade.


Tencent invests heavily in talent and
technological innovation, actively promoting the development of the Internet
industry. Tencent was founded in Shenzhen, China, in 1998. Shares of Tencent
(00700.HK) were listed on the Main Board of the Stock Exchange of Hong Kong in


For more information, visit: www.tencent.com