Lombard Systems, a startup building financing infrastructure for tokenized assets, has raised $4 million in a combined pre-seed and seed round led by Ethereal Ventures, with participation from Alps Capital, First Commit Capital, Veris Ventures and Atka.
According to a Nov. 5 release, Lombard's Delivery-versus-Lock (DvL) standard lets institutions pledge tokenized and digital assets as collateral while the assets remain in their existing securities accounts. Lenders receive a legally enforceable security interest through a cryptographically signed Credit Receipt. The company was previously known as SemiLiquid and has offices in Dubai and New York.
The proceeds will fund legal opinions in the U.S., England and Wales and five other jurisdictions, additional Control Locations, more integrations and hiring. Lombard plans its first institutional deployment by the end of 2026, the company said.