Dinari, a crypto startup focused on tokenizing real-world assets, has raised $12.7 million in a Series A funding round led by Hack VC and Blockchange Ventures, with backing from VanEck Ventures, F-Prime, and the Avalanche Fund, according to a Fortune report.

The round brings the California-based firm’s total funding to $22.65 million, Fortune reports. Dinari allows firms to offer their users the ability to buy shares in major U.S. companies and funds through dShares, which it also makes available on its platform.

These tokens are backed one-to-one by real shares purchased and held by Dinari. The company charges a subscription fee for access to its API, which it says has drawn strong demand from Latin America, especially Argentina and Brazil, as well as growing interest in Africa and Southeast Asia.

The new capital will be used to bolster compliance with regulations in the markets where Dinari operates. While the company is generating revenue, it declined to disclose figures.

Dinari wasn't immediately available for comment at press time.

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