Fvndit Announces $10M STO Backed By Equities
Fintech company Fvndit is holding a $10M digital security offering. The company will use the proceeds to further its Vietnamese crowd-funding platform for small and medium-sized businesses.
Fvndit is merging technology with crowdfunding with the help of a newly-announced STO. The company (pronounced ‘Fund It’) will be holding a security token offering with a cap of $10M. The team made up of engineers, designers, data scientists, trade finance experts, and bank veterans in both Vietnam and California.
The end result is to build a decentralized platform for crowd-funding in Vietnam for medium and small businesses (SMEs). Currently, SMEs account for more than 41% of Vietnam’s overall GDP. With over 70% of SMEs in Vietnam having an issue in accessing credit, Fvndit is hoping to make this process easier.
Fvndit already operates eLoan, a peer-to-peer funding and investing marketplace in Vietnam. To date, it has facilitated over $5M in loan disbursements with zero loan loss.
The Fvndit STO
The STO will target $10M and will be available to both US and non-US investors. Compliant legally in the United States, it falls under Regulation D (506c) and Regulation S exemptions. FVND tokens will be available at 30% discount at a price of $1.00 for the STO.
According to Tan Tran, CEO of Fvndit:
As a technology company, we strive to be innovative and transparent, bringing trust and confidence to investors interested in our growing business. Investors will now receive shares, represented by tokens, with asset-backed US-based security and an unprecedented level of transparency that’s extremely important for investing in a rising emerging market.
Do you think Fvndit’s STO has potential? Let us know in the comments.
Image courtesy of Medium.