TokenMarket, the investment platform powered by blockchain will officially launch its Security Token Offering (“STO”) today, for 30p a share.
After the fundraiser is completed successfully, TokenMarket will aim to exit the UK Financial Conduct Authority’s (FCA) regulatory sandbox as a fully regulated investment platform, and authorized to help innovative, growth businesses raise capital through STOs. The rigorous approval process demonstrates TokenMarket’s commitment to effective regulatory oversight as well as stringent investor safeguards.
This will be one of the UK’s first sales of tokenized equity to everyday investors. By setting the price at 30p, TokenMarket is aiming to offer access to retail investors, reflecting the company’s commitment to provide global investors with the opportunity to back ambitious, early-stage start-ups and SMEs.
STOs, a new form of fundraising, allow investors to record equity on distributed ledger technology (DLT) under existing securities regulations. As such, TokenMarket shares will be registered on blockchain and offer the same rights and protections investors would expect from ordinary shares.
Since the Company was founded in 2016, TokenMarket has helped to raise £240m for over 30 start-ups and has expanded to Dubai, Malta and Finland. Having secured restricted FCA permissions to carry out this equity issuance, TokenMarket looks forward to leaving the FCA Sandbox as a fully regulated investment platform, for users to research, trade and invest.
The strong pipeline of businesses seeking to STO once TokenMarket leaves the FCA sandbox include Cryotech Nordic, a Pioneering innovative cryotherapy systems and solutions. Its innovative and groundbreaking technology sees it step away from using expensive liquid nitrogen chambers, massively reducing costs and opening up a once niche industry into a much larger and more accessible retail market. Dovu, is working with a growing number of automakers, public transport operators, and mobility startups, Dovu seeks to create a circular economy for smart mobility, where consumers are directly rewarded for the valuable data and actions, they contribute to their mobility service providers. In the last year, DOVU has established pilots with 5 major automakers and has won a contract with a UK bus and rail company that completes 1 billion journeys per year.
Ransu Salovaara, TokenMarket CEO, stated, “I am delighted to confirm the launch date of our upcoming STO and to continue to progress in the FCA’s sandbox. At TokenMarket, we strive to democratize investment opportunities, empowering everyday investors to get involved in exciting, early stage start-ups. The FCA sandbox is rigorous and world-leading; it is critical to work with financial regulation, to ensure investor protection and rights.