Republic, a New York-based retail investment platform affiliated with AngelList, closed a $12M funding round.
The round was led by Binance Labs and NGC ECO Fund, with participation from East Chain Co, Oyster Ventures, FBG Capital, Hazoor Capital, ZK Capital, ZhenFund, and others.
The company will use the funds to finance the tokenization of the Republic platform and the development of its own security token.
Launched in 2016 and led by Kendrick Nguyen, CEO, Republic is an investment platform providing retail investors around the world with compliant access to curated startups and blockchain projects. The platform operates under U.S. equity crowdfunding regulations, and is under the supervision of the U.S. Securities and Exchange Commission and the U.S. Financial Industry Regulatory Authority.
The company began curating and offering token sales in late 2017 under the brand Republic Crypto, providing compliant access to both non-accredited and accredited investors. Since then, dozens of startups and crypto projects have raised on Republic from tens of thousands of investors worldwide.
The tokenization project aims to incentivize and engage all participants on the platform with the introduction of a Republic token, which will carry functional uses as well as economic rights. It is also working on tokenizing all financial products offered on the platform to enhance their liquidity and transferability.
Last year, the company raised seed capital from a cohort of venture firms across the US, including Oyster Ventures, AngelList, RenGen, NextGen Venture Partners, and Grand Central Tech.
FinSMEs
28/06/2018