Genesis Vision Seeks to Raise $1M in Equity Round at $10M Valuation
Three years after reeling in $2.8 million in fresh capital, Genesis Vision is raising another $1 million in equity funding as it seeks to strengthen its balance sheet to accelerate growth and set up for scale.
The company, which operates a decentralized trust management platform built on blockchain technology and smart contracts, is currently offering 10 percent in equity at a $10 million pre-money valuation.
So far, this project has been funded by the founders’ personal investments and through an initial coin offering conducted in 2017. Genesis Vision ICO aimed to raise $33 million, but reached just $2.83 million.
Despite raising less than expected, the company has continued to develop its offering which currently encompasses a social trading platform, asset management, and a network of brokers and exchanges from both cryptocurrency and traditional financial markets.
The company invited both institutional and private investors to take part in this fundraising round with a minimal investment amount set at $25,000 for those participating in the financing.
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Genesis eases operations with new partnerships
“We believe this is the right moment to invest because: We have product/market fit, We have a rapidly growing community of traders and investors, We have launched our marketing campaign, tested advertising channels and have a clear and effective marketing plan,” the company said.
Genesis Vision said it will use the new funds to cover legal and marketing expenses of their expansion to traditional financial markets.
The company has recently enabled Forex trading directly on its decentralized trust management platform. Users are now able able to trade Forex and other asset classes on its brokerage brand, Genesis Markets, as well to copy trades.
Genesis Vision platform already offers currency trading through various partners, including Roboforex, Exante, and Just2Trade. Its initial fund management concept has evolved into a peer-to-peer asset management module offering.
Genesis Vision has been actively accumulating more and more partner brokers, as the company is of the view to expand its pool to offer more options to its managers. On the crypto side, the company aggregates the liquidity from multiple exchanges to provide deeper order books to its clients. In addition to Houbi, the firm’s platform is also bridged to Binance and LMAX Digital, and negotiations with several other exchanges to join are underway.
Published at Wed, 15 Apr 2020 19:54:08 +0000 Genesis Vision Seeks to Raise $1M in Equity Round at $10M Valuation