An initial coin offering (ICO), which means issuing cryptocurrency, is becoming an ever-more popular alternative for startups to raise additional capital. In light of this trend, Bloomio AG developed its Bloomio platform, which aims to bring investors and startups that need capital together. Instead of acquiring a share in the company, investors can buy tokens as a kind virtual currency. These are stored in a Blockchain and can be traded via this network.
Bloomio has once again been able to impress a number of investors with its platform and raise 700,000 francs, as the company reported in a press release. To date, the startup has therefore secured a total of 1.4 million francs in capital. It plans to move forward into Series A Funding this year.
The additional funds will be used by Bloomio to develop its platform. The company will focus on obtaining the needed licenses and developing its core platform. With regard to geographical expansion, Bloomio intends to secure a solid presence in Switzerland and Europe to then further expand into Asia and the USA.
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