Neufund, the end-to-end solution for securities tokenization and issuance, announced today that its platform operator, Fifth Force GmbH, will become the first company to conduct its Equity Token Offering (ETO) through Neufund.
The offering will start on November 27th with a whitelist subscription period, and end on December 15th after seven days of public sale. The details of the offering will be announced on November 27th alongside the ETO’s listing page. Fifth Force plans to conduct the second part of the ETO next year, offering similar investment conditions with a minimum ticket as low as €500.
Based in Berlin, so far, Neufund has on-boarded over 3,000 investors from 91 countries and has announced seven companies to conduct Equity Token Offerings in the coming months. Neufund’s open-source set of protocols for enhanced ownership allow anyone to give real-world assets a representation on the Ethereum blockchain, in the form of legally-binding security tokens. Neufund’s technology has been available open source on its GitHub profile since January 2017.
Neufund advises on regulatory developments to multiple governments, including Malta and Germany, and has already received a commitment equivalent to more than €12 million for future investments on the platform. Neufund’s community of investors includes Frank Thelen (Freigeist), Christophe Maire (Atlantic Labs), Alexander Lange (Index Ventures) and Max Kordek (Lisk).
Neufund’s securities issuance platform is owned by the community itself. Its token model rewards investors for each investment with NEU tokens, which allows investors to claim their share of the revenues that Neufund generates. The first ETO will serve as a test drive for Neufund’s set of protocols.
“More than a year ago we made a promise to conduct the first-ever legally binding offering of tokenized equity on Blockchain in 2018, and we remain true to that plan. The first ETO will be an ultimate showcase of our product.”
Neufund also announced today, that due to an unexpected request for a technological audit from the German Federal Financial Supervisory Authority (BaFin), it has raised the minimum ticket to €100k. The request has no legal reference in existing regulations and has never been brought up in conversations between the company and the watchdog in course of their dialogue, which was initiated nearly 2 years ago. It is the only substantial barrier that stops Neufund from offering a minimum ticket of €500, which is accessible to a much wider public.
“We are convinced the technological audit will have a positive outcome. We remain fully committed to making investment opportunities accessible to anyone, without baseless entry barriers.”
