Tech Company Financing Transactions
Crowd Genie Funding Round
Crowd Genie secured a $5.6 million funding round on 3/7/2018. Investors included private investors.
Transaction Overview
Company Name
Announced On
3/7/2018
Transaction Type
Token
Amount
$5,550,000
Round
Undisclosed
Investors
Proceeds Purpose
1. Invest in listings on Crowd Genie platform listings (45%): Invest in the listings will allow CGCoins to gainfrom the interest earned that in turn will improve and rapidly increase the amount of funds availablefor any future buybacks. 2. Hire team (30%): Along with investment in listings on Crowd Genie, we will use the funds to expand our team. Specifically, set up a development centre in India, along with one in Singapore and expand the business development team to increase the user base of the Crowd Genie ecosystem, which in turn will increase the token usage rate. 3. Compliance and cyber security (10%): Crowd Genie already is a licensed, and regulated entity and we expect the KYC, AML/CFT and cyber security costs to increase as the size of the business increases. 4. Business development and overheads (15%): The remaining will be used for business development costs, and overheads such as rents and server costs.
Company Information
Company Status
Private & Independent
Industry
FinTech
Mailing Address
57 Mohamed Sultan Rd. 01-05
Sultan Link, 238997
Singapore
Sultan Link, 238997
Singapore
Phone
Undisclosed
Website
Email Address
Overview
Crowd Genie (Token:CGCOIN) makes Lending to SMEs border-less, transparent and liquid as compared to traditional financing. Our goal is to create an Asia wide Business Loans Asset Exchange.
Profile
Social Media
Company News
Facebook
YouTube
Management Team
Title
Name
Email & Social
Chief Executive Officer
Akshay Mehra
Co-Founder
Bikash Saha
VP - Operations
Wai Wan
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