Bloomio, a blockchain- based equity crowdfunding platform that allows investors to fund startups in return for tokenized shares, has appointed a new board of independent experts to conduct due diligence of potential strength and scalability of startups applying to raise on the platform. The platform raised an additional CHF 700,000 CHF — totaling CHF1.4 million in seed capital and plans to start up business in Q1 of 2019 — in growth capital from a group of investors this past spring to develop and scale its platform in order to offer tokenized securities (including a secondary market to provide liquidity for investors).
Crowdfund Insider reached out to Bloomio for further comment on the industry, issues facing token security and areas of potential disruption and will post insight when received.
Bloomio then noted that its expansion plans included securing a “solid presence” in Switzerland and Europe to then to cross the Atltantic into the United States and, at some point push into Asia. A new board of independent experts’ industry knowledge will help Bloomio reach its goals.
The panel, comprised of ten industry experts spanning various technological sectors including notable members including NeoFelis CEO Eduardo De Barrios, Metahash Chief Legal Officer Maria Agranovskaya, Alibaba Marketing Director Tatiana Ignatochkina and Real Advisors founder Juliet Kasko, were selected for their experience as business leaders, investors and founders.
“The primary profiles we considered were professionals with a track record in at least one relevant industry and people with experience dealing with and evaluating startups,” explained Bloomio Co-Founder Mark Shmulevich regarding the selection process.
By hiring independent assessors with rigorous industry knowledge, Bloomio aims to cultivate an investor ecosystem which capitalizes on the benefits of the VC system. The external due diligence process, undertaken by at least two experts who analyze a startup’s team, product idea, innovation, product state and process maturity, provides prospective investors with reliable information and the assurance that they are not signing up to a scam, said Bloomio. Founded in 2017, the platform believes that independent experts are crucial for conducting unbiased due diligence and subsequently maintaining the highest financial standards of equity crowdfunding.
“All in all, we witnessed a very positive reaction from those we offered the opportunity to join the Bloomio expert board,” added co-founder Shmulevich. “The idea of VC industry disruption – giving everyone an easy opportunity to invest and preserve liquidity in their startup investments – resonated well with them.”
By leveraging the best elements from blockchain crowdfunding and the VC system, Bloomio targets worthy projects and helps that secure funds while simultaneously providing investors with improved access to expert industry guidance vis-à-vis other platforms. Current investment opportunities listed on the platform include Mr. English Coffee, Peerspoint, Publiseer, Flyerbee, Jellyfish and Greenstorc.
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