Project Crowd, an “AI recruitment platform,” has listed a security token offering (STO) on WeOwn. This is WeOwn’s first STO.
According to a release, after launching a private fundraising round through the WeOwn platform in September, Project Crowd is now open to public investment, with a minimum investment of 200 Swiss Francs. The WeOwn platform uses distributed ledger technology to manage the offering including “end-to-end regulatory compliance built into the investment process.”
Sascha Ragtschaa, CEO & co-founder of WeOwn, commented on the STO saying times have changed since IPOs were first introduced and the established process doesn’t suit modern investors nor modern companies:
“Only 25 companies have floated on the London Stock Exchange in 2019, and with high-profile failures like Uber, Lyft, and WeWork, it’s no wonder companies are turning to private fundraising models instead,” said Ragtschaa. “Platforms like WeOwn democratize the investment process, giving everyday people an affordable opportunity to back dynamic, rapidly scaling brands like Project Crowd through an intuitive, user-friendly process. There’s none of the complexity, confusion and red tape associated with traditional stock exchanges.”
Kathrin Hauck, CEO & co-founder of Project Crowd, said they chose WeOwn as their fundraising partner due to the companies’ shared vision of blockchain’s innovative potential in the Fintech market.
“The Prowd platform we are developing leverages both blockchain and AI to drive a fundamental industry-wide shift, much like the way WeOwn has approached traditional equity markets. We are genuinely pleased to join WeOwn as we open our public sale.”
Project Crowd is based in Liechtenstein and is seeking a raise of CHF 1 million. As of today, the offering page states that it has raised 33% of that amount. Project Crowd is offering a 7.25% equity stake in the company at a valuation of CHF 13.8 million
This is a historical moment for not just us, but the entire #STO industry. A real and life public offer in Europe, accessible to everyone and the start of an entire new approach to fund raising for private SME’s. Small steps, but a huge one for the private market. 🥳💪🥇🏆 https://t.co/dHRRkGgHN3
— Sascha Ragtschaa (@Ragtschaa) October 15, 2019
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