1.4M CHF for Bloomio

The funds will help Bloomio to implement the highest financial standards to startup investments. Moving forward, the company will focus on obtaining the needed licenses, developing its core platform, and implementing the secondary market for security tokens. Geographical expansion remains in line with the plan of securing a solid presence in Switzerland and Europe later expand into the United States and Asia.

In March, the company has successfully completed the first seed round, raising CHF 700 K from founders and private investors. Now, a consortium of investors led by the original founders and individual investors including Peter Schmidlin, Michel Schaus and Andreu Torregrosa have contributed another CHF 0.7 million. Together, the startup has raised 1.4M CHF and is now preparing for the Series A round.

"The decision to invest in Bloomio was an easy one. You have a common problem, solved cleverly by very smart and talented people. It is very difficult to invest medium amounts into startups and to get reliable, objective assessments about the startups. This problem is solved by an amazing team with a proven record in the industry," said Andreu Torregrosa.

Bloomio developed an Equity crowdfunding platform connecting startups with individual investors. The platform allows startup founders to raise capital by tokenizing equity, and gives investors the possibility to trade startup stakes through a secure blockchain-based marketplace. Bloomio website has been live since Dec 2017 and many startups have already submitted their application to raise funds on the platform.

(JD/ran)