pieFi Raises $4.6 Million, Launches Upside.coop, and Co-Publishes White Paper on Regulatory Clarity in Web3
Summary
"In addition to the launch of the Upside.coop platform, pieFi also announces the release of a white paper detailing a way for web3 companies to achieve greater regulatory compliance by using cooperatives. The white paper, which pieFi has co-authored alongside KPMG and Orrick, outlines ways that cooperatives can be used to share ownership with communities in a compliant manner. "We are excited to offer a solution for web3 projects to share ownership with their community in a legal and compliant way," said James Wigginton, a senior associate at Orrick and co-author of the white paper. "In the lead up to the release of the whitepaper, and the launch of the Upside.coop platform, pieFi raised $4.6 million in a financing round led by Kickstart Seed Fund with participation from Origin Ventures and others. "Upside Cooperative has the potential to fundamentally change the way businesses operate and create value alongside their stakeholders and community," said Dalton Wright, Partner at Kickstart Seed Fund.