FinLab EOS VC acquires stake in freelance platform Moonlighting
Munich — DLA Piper has FinLab EOS VC Europe I GmbH & Co. KG on an investment of up to USD two million as part of a Series A financing round in Moonlighting, Inc, operator of the on-demand freelance platform Moonlighting. The goal of the investment is to integrate the open source blockchain software EOSIO into Moonlighting’s Blockchain Profile Management System (BPMS).
Moonlighting is the first on-demand mobile solution that uses a blockchain-powered platform and proprietary tokens to create a virtual marketplace for self-employed and small business referrals. Founded in 2014 in Charlottesville, Virginia, the company will use the investment to transfer more than 700,000 user profiles to its blockchain using EOSIO. Each profile becomes transferable and contains important data such as ratings, recommendations, and confirmations of third-party licenses and certificates. Moonlighting will also transfer its mobile management tools, such as CRM or mobile payment, to the blockchain to enable users to work securely online.
FinLab EOS VC Europe I GmbH & Co KG is a fund managed by FinLab AG that invests exclusively in projects based on the open source blockchain software EOSIO. The fund focuses on seed and early-stage startups seeking equity investment. The joint fund of USD 100 million was launched by Block.one, the company behind EOSIO, and FinLab AG.
Advisor FinLab EOS VC Europe I: DLA Piper
The DLA Piper team led by partner Simon Vogel also included senior associate Michael Rebholz (both Private Equity/Venture Capital, Munich). In addition, partners Danish Hamid (Washington D.C.) and Mark F. Radcliffe and associates Kyle de Neve and Syeda Nazifa Nawroj (all Corporate/M&A, Silicon Valley) were involved in the advisory.