Globacap announced today that it has closed a $800,000 seed funding round led by Stoic Capital and ContactPartners, a customer contact solutions provider to leading financial institutions. Other backers included Christian Schulte, co-founder of Steinbeis Mittelstandsfinanzierung, which provides financing to mid-sized companies in German speaking territories, and Stephen Russell, a veteran of UBS and advisor to financial institutions.
Globacap is bringing the ICO form of capital raising into the regulated space, and into the mainstream. Its automated platform streamlines the capital raising process from start to finish while issuing debt and equity securities as blockchain tokens.
Investors received regular shares in Globacap, which become equity tokens at its Digital Security Offering (DSO) in July. The DSO will be the first regulatory-supervised equity issuance on blockchain in the world, and will serve as a proof of concept for the platform, which is scheduled for launch in Q4 2018.
Robby Dermody, Principal at Stoic Capital, commented; “We were part of the early experiments with tokenized assets on Counterparty in early 2014, so it is exciting to see the promise of security tokens really starting to take shape. We look forward to working with the Globacap team in their mission to bring digital securities into the regulated space. We are excited about their goal to help small and medium enterprises gain access to global capital, as well as create interesting new opportunities for investors.”