Hey guys! Happy to connect today and learn more about the Fintelum project! Can you tell us more about the founding of Fintelum and what the problem is that you were addressing?
Fintelum sprung out of an idea to separate investors seeking yield and those seeking to take over companies they invest in. The only way a company should be traded is by an amicable agreement with all parties involved, privately or on a public secondary market. This can be achieved by ensuring simple and fair terms of the shareholder agreement, multiple class shareholding and transparent business management. Fintelum was born out of our experience in capital-raising and out of know-how in carrying out a technically sound and legal fundraise. Several companies were enquiring how to crowdfund with us, and we decided to become the place, where investors meet good companies.
We decided effectively to compete with the likes of NASDAQ’s First North, by simplifying the investment terms and democratising access to transferable securities for everyone, not only Europeans, but for willing investors across the globe. The way we do it is by allowing everyone to invest using the best global currencies there are — cryptocurrencies, such as bitcoin and ether in euro-denominated securities in a law abiding European jurisdiction.
It is important to note that Fintelum’s business relies on the European Crowdfunding Service Provider Regulation (ECSP), which was adopted at the end of 2020, and the Prospectus Regulation exemptions. This means, Fintelum services are limited in up to EUR 5 million, for public securities offering, but has no limits for private securities fundraises, where only professional investors are eligible to invest. There are no limits on utility token sales, however.
Could you please give us a rundown of the most important things about Fintelum?
Fintelum is an equity crowdfunding platform, accepting euro and crypto such as bitcoin and ether as investable currencies. Fintelum offers tokenisation services, which simply means that the underlying security is digitally represented on the Ethereum Blockchain in a form of a smart contract. By means of tokenising, we open up to an eventual future, where all securities will live and trade, change owners via a blockchain transactions. As a company, we have developed our own implementation and are ready to embrace this inevitable future. See more on STO implementation whitepaper.
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