Reid Hoffman is leading a group of investors to give $13M in seed money to build a software that will allow more direct transfer of funds throughout the world.
"LinkedIn Corp. co-founder Reid Hoffman is leading a $13 million initial funding round for Segovia Technology Co., an enterprise software startup that aims to be the Salesforce.com Inc. for governments and institutions running anti-poverty programs.
"Hoffman is joined in the funding round by investors including Abraaj Capital Ltd. Chief Executive Officer Arif Naqvi, Bill Ackman’s Pershing Square Foundation and the Omidyar Network Fund Inc., the New York-based company said Thursday in a statement. Christopher Schroeder, an angel investor and former technology executive, will become a board member representing the new investors, Segovia said." Sangwon Yoon, Bloomberg Business