Crowd for Angels, one of the UK’s leading platforms for equity and debt crowdfunding, has made further progress on its ongoing and innovative Liquid Crypto Bond with attached Initial Coin Offering (ICO).
Launched at the end of 2017, the company is looking to raise up to £50 million via a 4%, 5 year bond issue, with investors in the offering also being allocated up to 99 “ANGEL” tokens per £1 invested. The tokens are being issued to investors as a reward for investing in the bonds and will not incur any additional costs.
Since the end of last year, Crowd for Angels has further added to its already strong advisory team to assist with the success of the ICO. New members include; Institutional Advisor, Henry Watkinson; Asia Marketing Advisor, Ken Tachibana; Blockchain Advisor, Dr. Theodosis Mourouzis; and Statistics & Data Scientist, Dr. Stylianos Kampakis. In order to study the tokenomics of the ICO Dr. Kampakis has compiled a model which suggests that the value of the ANGEL token could reach £1 within the term of the loan.
The bond proceeds will be used by Crowd for Angels to invest in secured crowd bonds listed its own platform. However, the ANGEL tokens will be also used by the company in order to drive user traffic to the platform and increase investor engagement by using the tokens as rewards.
Attracted to opportunities in the crowdfunding sector, AIM listed investment company Legendary Investments (LSE.LEG) recently made a strategic investment in Crowd for Angels, acquiring a 9.7% stake in the company. The investment valued Crowd for Angels at £3.7 million, with the two companies working together to share ideas and opportunities in order to help Crowd for Angels reach its potential.
Tony De Nazareth, CEO & Founder of Crowd for Angels, commented: “Our innovative bond issue and ICO structure has attracted significant attention from investors, with several million pounds having been committed to date. In the coming weeks and months we will continue to focus our marketing efforts, including attending industry conferences around the world to push the Crowd for Angels’ vision.
As a small company with a sophisticated platform and significant scalability, we are excited about how we can quickly take advantage of the opportunities that our token issue offers. The launch of the ANGEL Token is expected to drastically reduce our marketing costs and provide us with a significant competitive advantage.
Our long-term aim is to be one of the biggest crowdfunding platforms in the UK and in Europe as well as internationally by opening subsidiaries in jurisdictions such as Dubai, where initial discussions have already taken place.”
For more information on the ICO visit https://crowdforangels.com/ICO
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