Enterprise software firm R3, which leads a global blockchain consortium of over 200 organisations, is considering initial public offering (IPO), Bloomberg reported.

Sources familiar with the development told the media giant that the company is speaking with advisers about going public, although no final decisions have been made yet. Interested buyers have already approached R3, a source said.

Formed in 2015, R3 blockchain consortium has grown to a broad ecosystem of more than 200 members and partners across multiple industries from both the private and public sectors. It includes the likes of Microsoft, Intel, Credit Suisse, BNP Paribas, Citibank, Thomson Reuters, Oracle, and others.

Following recent reports on the company’s alleged financial woes, CEO David E. Rutter issued an official statement claiming that R3 was well-funded and has raised over $120 million from more than 45 institutions and brought in over $20 million in revenue.

In May 2017, R3 announced the completion of the first two of three tranches in its Series A fundraising round, securing $107 million. This year, the company has secured investments from CLS and TIS.

Rutter, along with R3 investors including Intel and Bank of America, among others, will decide the course of the IPO, the report said.

However, in an official statement on the matter, R3 said that “an IPO is not a path we’re pursuing at this time.”

“Our mission from the start was to deliver a blockchain solution for the widest possible business community, and any decision we make will have that goal in mind,” R3 told Bloomberg.

Last week, R3 launched “Corda Enterprise” – a commercial version of its Corda blockchain platform. The commercial version has been specifically optimised to meet the demands of modern-day businesses.