Baanx, a mobile digital banking app, payments engine, and cryptocurrency platform, has launched an equity crowdfunding campaign on Seedrs to raise £600,000 in funding. Launched in 2018, the company reported that it is looking for real change in the Digital Banking and Cryptocurrency sector.
“In short, the Baanx vision is highly ambitious. We are building an alternative financial infrastructure, running adjacent to the existing financial system from end-to-end. Harnessing the potential of blockchain technology to launch mobile banking brands that connect user communities together in the Baanx network.”
Baanx also revealed that it is partnering with new brands in new countries and regions, most of which are not in banking already but have large user communities to connect together – this model allows us to grow our financial network.
“In short, the Baanx vision is highly ambitious. We are building an alternative financial infrastructure, running adjacent to the existing financial system from end-to-end. Harnessing the potential of blockchain technology to launch mobile banking brands that connect user communities together in the Baanx network.”
Funds from the Seedrs round will be used for the following:
- Hire additional team members to grow our team of 16 to 25 to handle launching new brands
- Marketing (conferences, upgrade website + marketing materials).
- Launching Baanx services in Asia and South America
- Deliver further currency cards to connect to our partner communities
Since its launch, the campaign has successfully raised over £520,000. Baanx is offering 7.10% in equity at a £7,856,000 pre-money valuation.
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