News and Announcements
The BitBorro Lending Platform MVP completed as at December 2019
- Published December 16, 2019 12:00AM UTC
- Publisher Wholesale Investor
- Categories Company Updates
Key Takeaways:
Private Funding Secured to complete MVP. Secured working with Martin Place Securities in Sydney. The first company to use Pawn Broker’s Act to support digital lending.
From August 2019 BitBorro has used secured private funding that has been directed into the technology development of the platform. The BitBorro Platform is the first to use the Pawn Broking licensing approach to lending online against Crypto Currencies.
We firmly believe in making it as simple and as quick as possible to be able to apply for an online loan against cryptocurrency or to walk into a Pawn Shop and do this over the counter.
We are excited to announce that BitBorro is now at a point we can fully demonstrate it as a working platform to any interested investors.
In view of our readiness to go to market BitBorro is opening a Deal Room on CRIISP for potential investors wishing to be Founding Shareholder Investor Partners. Some of the details of the investment opportunity include:
- We have allocated 10% equity in BitBorro Pty Ltd to be used for our first Seed A Round
- The amount being raised for our Seed A Round is a total of AUD$200,000
- Investors will be receiving A Class shares with full voting and dividend rights
- The minimum investment being sought is AUD$10,000 per investor
- Funding is open to Retail (maximum 20 allowed) and Sophisticated investors
- Round A Funding will be required to be closed by March, 2020
- Founding Shareholder Investor Partners will be afforded additional opportunities with BitBorro to earn and to also be part of an advisory team
About BitBorro
BitBorro is a lending platform that has been developed for initially providing fast loans to anyone wanting to lend money against any well-established cryptocurrencies they are holding like Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. The BITBORRO Founders have personally invested the initial funding and many months of sweat equity needed to develop the business model and coordinate the building of the initial lending online platform. This is an Early Stage Investment Company (ESIC) opportunity, looking for capital and additional partnering opportunities.
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