Gary Cardone doubles down on blockchain startup

Serial investor Gary Cardone, the co-founder and former CEO of Clearwater-based fraud mitigation company Chargebacks 911, is doubling his investment into a blockchain nodes management startup. 

Earlier this year, Cardone injected $4 million into New York-based startup Node 40 through his Card1Ventures venture capital company. He has now pumped $8 million into the company as it plans to raise a $12 million Series A round. The startup, founded in 2014, was created to simplify the accounting of crypto transactions — from purchases to transfers to sales — on and off the blockchain by tracking digital assets, according to its website. 

“We have proven what we are trying to achieve by focusing on an institutional product that can serve the likes of the largest financial firms,” Cardone said, listing the addressable investment banks and fintech giants such as Goldman Sachs, Fidelity and Ernst and Young. 

Node40 will use the additional funding to expand into different verticals, such as the supply chain, health care and banking. 

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