Brale, a Des Moines-based startup founded by Ben Milne, announced Wednesday it has raised $11.1 million in funding. The funding round was led by Maryland-based New Enterprise Associates with Managing General Partner Scott Sandell joining Brale’s board of directors. Additional individual participation came from Matthew Prince, co-founder and CEO of Cloudflare, and Albert Wenger, managing partner at Union Square Ventures. Brale will use the funding to invest in research and development and support regulatory efforts. Milne said in an emailed statement that Brale was created to “combine the best of decentralized finance and centralized finance featuring the stability and benefits of centralized finance with the speed and versatility of decentralized protocols.”
