Bitbond, the first German regulated global lending platform for small business loans and the first German company to receive a regulatory licence for doing an STO, is launching an STO to fund small businesses in Asia.
The marketplace lender has already raised €2 million so far and is opening the STO up to an international audience. The company is aiming to raise €3.5 million to stimulate the Asian economy. .
“Small businesses are an incredibly important part of the economy, and hire the majority of all employed people worldwide,” says Radoslav Albrecht, Founder & amp; CEO of Bitbond. “We see this STO as a way to help small businesses create more jobs, and supercharge their own growth.”
Bitbond provides working capital loans to small businesses and online retailers and has already facilitated over $15 million in business loan volume. The platform is currently supporting over 150,000 users in 80 countries – a feat only possible with the use of Blockchain technology to facilitate cross-border payments and machine-based learning for efficient credit-scoring.
Bitbond primarily focuses on SMEs using eCommerce platforms, like eBay, Amazon and Etsy, These platforms have APIs which the Bitbond can connect with to learn about the health of the business.
Asfour is a construction worker in Kuwait, who sells cosmetics on eBay as a side business.
He came across Bitbond when researching cryptocurrencies as a means to increase profits, and found the application process to be so easy, that he immediately applied for a loan.
“The money I borrowed helped me to expand my business to a global scale,” Ali Asfour highlighted, “I would recommend it to any small business that needs a cash injection to grow.”
In the Philippines, Dr Joemar Taganna was working on a research project in the Bio-engineering Sciences, but pivoted to launch a software development business.
A Bitbond loan helped to TTSciBiz Informatics, and covered expenses whilst the business established its reputation with clients.
“It’s much easier to secure a Bitbond loan than more traditional routes to seed finance.” Dr Taganna says, “there’s a lot less hassle, which makes it quicker to launch a business and achieve sustainable growth.”
The security token of Bitbond (BB1) works like a bond, with Bitbond buying the token back after 10 years. It is the first German STO with a regulator-approved prospectus, which provides other businesses with a framework to learn from.
The STO will run until the 8th of July, and is open to investors around the world, except residents of the USA and Canada.