Alta raises $47.5 million Series A to build a blockchain for financial institutions

A shared digital ledger in which records are grouped into blocks and linked so that past entries are very hard to change.

It underpins cryptocurrencies and is tested for payments, supply tracking and record keeping.

A stage in which a startup raises money from investors, named in sequence such as seed, Series A and Series B.

Each round sets a valuation and shows how much confidence investors have in the company.