Bloomio Launches Token-based Crowdfunding Platform With Ambitions to Redesign VC

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Swiss-based Bloomio,  an equity crowdfunding platform that connects early-stage startups with individual investors, has officially launched, after raising CHF 700, 000 in its first seeding round, according to a company statement. The platform allows startups to raise funds by tokenizing their equity and enabling investors to trade startup stakes through a secure blockchain-based marketplace.

In its announcement, the company said that the idea came about when the three cofounders first met, realizing they were all in agreement that  many of the imperfections of the traditional venture-capital process (illiquidity, lack of capital, limited quality information and risk of fraud) could be addressed by a blockchain-based crowdfunding platform.

The company’s CEO, Max Lyadvinsky, is a former co-founder of Acronis, which develops software for backup, disaster recovery and secure filesharing. Lyadvinsky has been investing, developing and serving on the boards of several startups. In a statement he said: “I have been involved in many successful startups, but this is the thing! Many people are keen to invest in startups and to access investments with higher return. We offer them a trustworthy platform to do it.”

Bloomio’s other two founders are Emile Osumba, a finance executive with 17 years’ experience with top European banks, and Alexey Raevsky, who developed inofrmation-secutrity specialist Zecurion, and is now Bloomio’s CTO, said the company.  

According to its webiste, investors need not put in large sums to use the Bloomio service; as little as USD 50 is necessary to invest in some of the startups on the  company’s books. Bloomio also offers tailored solutions for banks and fund managers. At the end of 2017, the company added Luka Muller, a partner at the legal, tax and compliance fintech firm, MME, to its advisory board. 

“This is the first step on the journey to permanently reform the traditional fundraising process for startups,” the company stated in its announcement.

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About Ken Silva

Ken Silva is a journalist who covers the financial services industry in the Cayman Islands and the British Virgin Islands.

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