CoinList, a platform where digital asset companies manage their token sales, has raised $9.2 million in its initial fundraising round.

The funding round drew contributions from Polychain Capital, Digital Currency Group, FBG Capital, Libertus Capital, Blockchain Capital, CoinFund and Electric Capital. The total amount raised also includes the funds CoinList previously raised from VC firm Accomplice and Protocol Labs, a research, development and deployment lab for network protocols, according to the official release.

"We've been very impressed with the technical solutions built by CoinList to handle regulatory requirements for token-enabled networks that wish to engage investors in a compliant manner," said Ryan Zurrer, Venture Partner at Polychain Capital. "We see tremendous synergies across our portfolio, and we're optimistic that many of our portfolio projects will tap CoinList for fundraising activities."

CoinList plans to use the new funding towards growing its compliance, operations, engineering, product, and sales teams; supporting existing product offerings; and launching new product lines over the coming months. Speaking with CoinDesk, CoinList co-founder and CEO Andy Bromberg revealed that the funding will also be used to build a secondary exchange for blockchain-based securities.

"There is not right now a good tokenized exchange for securities," Bromberg told CoinDesk, adding that CoinList hopes to be the first to introduce "a liquid and compliant secondary exchange for securities."

Launched in 2017, CoinList offers its ComplyAPI services to allow companies to seamlessly conduct Anti-Money Laundering-Know Your Customer (AML-KYC) checks on potential investors, as well as to verify the accreditation status of investors pursuant to US securities laws. It has processed more than $400 million since mid-2017 and supported one of the largest initial coin offerings (ICOs) of 2017, for Filecoin, which raised $205 million.