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FinLab EOS VC acquires stake in freelance platform Moonlighting

25. April 2019

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.

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