CERHA HEMPEL acted as issuer counsel to Permissionless Technologies Inc., a Delaware corporation with roots in Austria, on the successful completion of its USD 1.5 million pre-seed financing round.
Permissionless Technologies is a fintech startup active in the decentralized finance (DeFi) sector and is currently developing the United States Permissionless Dollar (USPD), a decentralized, permissionless stablecoin aiming to enhance financial accessibility and resilience.
The financing round involved the spin-out of Permissionless Technologies from Morpher Inc., a Delaware company founded by the same team, and included the issuance of both common and preferred stock to early-stage investors.
The round was led by Draper Associates, a prominent Silicon Valley venture capital firm known for backing transformative blockchain and fintech companies.
“We are proud to have supported Permissionless Technologies in laying the legal foundation for this innovative venture,” said Bryan Hollmann, Senior Associate at CERHA HEMPEL and a licensed New York attorney. “Many founders today are thinking globally from the start. Our goal is to make sure their legal strategy supports that ambition on both sides of the Atlantic.”
The CERHA HEMPEL team advising on the transaction was led by Oliver Völkel (Partner) and Bryan Hollmann (Senior Associate) from the firm’s Banking & Finance department.