Following $5M investment, Moonlighting freelance integrates with EOS

In a move that will shift the placement of 700,000 users, Moonlighting is integrating with the EOS blockchain.

Moonlighting, a marketplace for freelance professionals launched in 2014, has taken on a $5 million investment round led by the FinLab EOS VC fund, a joint venture of FinLab AG and Block.one. The investment will be used to grow Moonlighting’s user base and to integrate its existing infrastructure with EOS.

“We have been exploring blockchain protocols since the end of 2017 and [have] chosen EOSIO due to its ability to scale transaction processing, maintain low transaction costs and enable ease of user account management,” Moonlighting CEO Jeff Tennery told CoinDesk.

Stepping back, Block.one raised an estimated $4 billion in a yearlong initial coin offering that ended in 2018, using those funds to develop the EOSIO software on which the EOS blockchain is run. Block.onealso invested in funders who would support applications meant to run on the new blockchain, most famously in Mike Novogratz’s Galaxy Digital. The FinLab EOS VC fund is a similar effort.

“We believe that Moonlighting contains the three key traits you look for in a decentralized application: real customers, real traction and a bona fide use case for blockchain technology,” Paul Grotowski, COO of EOS VC, said in a press release.

Germany’s FinLab AG has been investing in financial technology since 2005. FinLab board member Stefan Schuetze said in a release that people at his firm “believe they will be one of the early winners to validate blockchain.”

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