Baanx, a mobile digital banking app, payments engine, and cryptocurrency platform, is set to close its equity crowdfunding campaign on Seedrs with nearly £650,000 secured. The campaign, which has attracted more than 500 Seedrs investors, launched last month with a mission to raise £600,000.
As previously reported, Baanx is on a mission to find a real change in the Digital Banking and Cryptocurrency sector. The company further explained:
“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 has collaborated 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.”
In regards to what the funds will be used for, Baanx noted it will be split among 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
Baanx is currently offering 7.10% in equity at a £7,856,000 pre-money valuation.
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