Globacap announced on Wednesday it raised $800,000 through seed funding round, which was led by Stoic Capital and ContactPartners, to continue work on its regulated blockchain securities platform. According to Globacap, other backers included Christian Schulte, co-founder of Steinbeis Mittelstandsfinanzierung and Stephen Russell, a veteran of UBS and advisor to financial institutions.
Globacap reported it is on a mission to bring the ICO form of capital raising into the regulated space, and into the mainstream. Its automated platform streamlines the capital raising process from start to finish while issuing debt and equity securities as blockchain tokens.
“Our mission is to liberate businesses by simplifying, streamlining, and widening access to global capital. Using blockchain, automation, and machine learning, our platform is bringing the new digital form of capital raising into the regulated space, and into the mainstream.”
The company noted that investors received regular shares in Globacap, which become equity tokens at its Digital Security Offering (DSO) in July. The DSO will be the first regulatory-supervised equity issuance on blockchain in the world, and will serve as a proof of concept for the platform, which is scheduled for launch in Q4 2018. In regards to the company’s growth and development, Robby Dermody, Principal at Stoic Capital, added:
“We were part of the early experiments with tokenized assets on Counterparty in early 2014, so it is exciting to see the promise of security tokens really starting to take shape. We look forward to working with the Globacap team in their mission to bring digital securities into the regulated space. We are excited about their goal to help small and medium enterprises gain access to global capital, as well as create interesting new opportunities for investors.”