HSBC Asset Management (HSBC AM) has led a €12 million Series A funding round for Unbox, the provider of infrastructure for programmable exchange of value.

The Brussels-headquartered firm said it has developed a proprietary technology to “imbue virtually anything with a memory, a conscience and a forward-looking vision”. The technology emphasises privacy and security, allowing parties to exchange control and distribute a range of assets through a closed loop system.

Unbox said that the funding will allow it to expand its software platform to better serve its target markets and work on industry-led projects. Some of the investment will be used for recruitment as well as training for existing team members.

SFPIM Relaunch, a subsidiary of the Belgian Sovereign Wealth Fund also participated in the funding round.

“We are pleased to lead this investment round for Unbox and support them in their mission to enable targeted and transparent funding distribution through their versatile software platform, said Remi Bourrette, head of venture investments at HSBC AM. “Thanks to their technology, traceability and programmability can be embedded into existing payment networks, which simplifies deployment.”

Bourette added that the investment is part of the bank’s venture capital strategy focused on FinTech and enterprise software.

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