Blockchain company Axoni announced that it has raised $18 million in a Series A financing round that is led by Wells Fargo and Euclid Opportunities. The funding round has brought Axoni’s total funding to date above $20 million.

Earlier this week, the funding round by Axoni also saw participation from leading financial institutions like Goldman Sachs, J.P. Morgan. Thomson Reuters, Andreessen Horowitz, FinTech Collective, F-Prime Capital Partners, and Digital Currency Group are some of the partners in the Series A round of funding.

“We are delighted to have strategic support from global leaders in financial services. The changes already underway based on distributed ledger technology will have a profoundly positive impact on the industry. Axoni is excited to help drive that progress alongside our investors and clients,” Greg Schvey, CEO of Axoni said.

Axoni has performed series of successful, high-profile deployments of the blockchain technology including the optimization of post-trade data management for credit default swaps, equity swaps, and foreign exchange derivatives that are implemented in partnership with more than a dozen global banks and financial infrastructure providers.

“Axoni has developed proprietary Smart Contract technology and has successfully validated this technology in a variety of Capital Markets use cases. We have been impressed by the high-caliber team, their deep domain knowledge, and disciplined approach to product development. We are delighted to support Axoni in the next phase of their development,” Thomas Richardson, Head of Market Structure and Electronic Trading Services at Wells Fargo Securities, said.