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London based blockchain startup Billion has secured €2m in grant funding from Horizon 2020. Billon is the 1st FinTech company to solve the problem of the cumbersome and expensive $1.3 trillion alternative payments market – they lever their proprietary distributed ledger technology to eliminate the need for vouchers, pre-paid cards, and other semi-cash payment methods.
According to a statement from the startup, the grant seeks to formally recognize its capacity in developing corporate payment solutions based on distributed ledger technologies (DLT). The startup said the funds would be used to its suite of develop e-commerce and content monetization solutions. Further, while Horizon 2020 provides €80 billion in funds from 2014 to 2020 for a wide range of innovation companies, this is perhaps the first funding offer from the program to a blockchain-related startup. Specifically Billon Group's grant came from a subsidiary SME Instrument program, which has offered €3 billion during the same period for high-potential SMEs.
https://www.coindesk.com/blockchain-payment-startup-billon-nets-e2-million-eu-research-fund/
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