New York-based blockchain startup Axoni has raised $18m in a new funding.

The Series A round was led by Wells Fargo and Euclid Opportunities, a fintech investment firm owned by financial services company ICAP. Goldman Sachs, JP Morgan, Thomson Reuters, Andreessen Horowitz, Digital Currency Group, FinTech Collective and F-Prime Capital Partners also took part in the round.

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Axoni is one of a number of startups in the blockchain and distributed ledger space seeking to provide services to major financial firms. In the past few months, the startup has tested smart contract and data management applications – work that the funding round indicates will continue. Many of the firms backing the startup – which said it has raised more than $20m to date – have also pursued use cases of their own.

“We are delighted to support Axoni in the next phase of their development,” C. Thomas Richardson, who leads Wells Fargo Securities’ Market Structure and Electronic Trading Services unit, said in a statement.

The round is the latest development in a flurry of venture activity in the space in recent weeks.

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