Tokinvest Raises $500K in Pre-Seed Funding

Tokinvest, a Dubai, UAE-based marketplace for real-world asset tokenisation, raised $500K in Pre Seed funding.

Backers included Michael Ourabah and other undisclosed investors.

The company intends to use the funds to enhance the platform’s technological infrastructure, expand the team, and accelerate market penetration.

Led by CEO Scott Thiel, Tokinvest is a marketplace that connects real-world asset issuers with investors globally. Its platform creates virtual tokens representing rights to assets and providing comprehensive lifecycle services from ideation to trading to asset servicing. It leverages the region’s favourable regulatory environment to offer all investors access to desirable assets.

Commenting on the news, Scott Thiel said: “We are immensely grateful for the trust and support from our early investors. This funding fuels our technological and operational development and solidifies our strategy to lead in the real-world asset tokenisation space. We are excited about the opportunities that lie ahead and are keenly focused on launching our marketplace later this year.“

This news follows an announcement from Tokinvest securing initial approval for licensing from the Government of Dubai Virtual Assets Regulatory Authority (VARA). Licensing remains subject to fulfilment of pre-operating conditions and qualifying for operational approval.

FinSMEs

09/07/2024