5 Turkish Companies Prepare for $300 Million ICO
2017 was a poor year for start-ups. According to StartupsWatch data, Turkish start-ups received only $100 million in investment last year.. Until the past years, Turkey was leading Eastern European countries in start-up investments.. However, this year, it narrowly surpassed Romania to take the second place after Poland.. The largest investment and attracting venture in Turkey was Iyzico, which received a total investment of $15 million from International Finance Corporation (IFC), Amadeus Capital Partners and Vostok Emerging Finance.. However, the Blockchain phenomenon is preparing to raise all the trends in the start-up ecosystem in 2018.
The fundraising environment is changing
Cryptocurrencies, which have been on the agenda all year, especially Bitcoin, are on the market in 2018. looks like it will continue to dominate. With more and more people wanting to harness the power of blockchain technologies, the ‘crypto fever’ has permeated the entrepreneurial spirit and is poised to change the fundraising landscape forever.
Only one plans to offer in Turkey
In 2018 Five Turkish start-ups plan to conduct an Initial Coin Offering (ICO) to raise at least $250 million. But this pessimistic scenario. It is estimated that the total supply amount could reach up to 300 million dollars.. One of those preparing to enter this race, digital identity service provider Kimlic aims to raise $14 million. Copyrobo, Global Miles and Blockchain missionary Cemil Şinasi Türin are also other companies preparing to launch in 2018. Among them, only Türün plans to supply in Turkey and is in contact with the capital markets authorities in Ankara for this.
There are also those who are planning to supply in Malta
Others, less in line with the legislation will raise funds from global investors with the offerings they will make in Singapore, Vietnam, Malta or England, where it is important. On the other hand, Further, which provides a smart travel platform on the blockchain, plans to increase up to $ 200 million, while the Bundle Network provides up to $ 40 million in funding with its system that will allow its investors to trade on many online cryptocurrency exchanges around the world.
Further will ‘turn upside down’ the travel industry
Further, which was founded in 2012 in Dubai and invested in blockchain technologies in the travel industry, left Istanbul-based Seven Gates. will perform the digital currency supply in Singapore. The company will offer 430,000 Ethereum tokens in exchange for the “Smart Travel Record”, a smart token that holds travel information of passengers.. In other words, passenger name registrations and reservation codes used in the same aviation industry’s main operations such as invoicing, ground handling, hotel reservations and car rental… Further’s fundraising strategy will follow a dual path.. The company will also sell up to 6 percent of shares before the end of the ICO. Further aims to work with 486 non-IATA airlines worldwide. The company, which is currently negotiating with a regional airline association that has members across Africa, aims to complete its first transaction on its own platform within 10 months, and the ticketing function within 18 months.. The company’s business plan is to achieve a 2.5 percent market share in the first five years by processing 100 million ticket transactions and earning $500 million.. The agreement process with two airlines, one from South Asia and the other from the Gulf region, continues.
The pre-supply process will start in February, the supply itself will take place in February and March.. The company aims to raise $150 million in funding during the offering phase.. If this is achieved, the fund rate to be raised with an additional sale of $ 50 million will reach $ 200 million.. Further’s blockchain technology provides real-time solutions to billing, contract and payment issues, and will also launch new functions such as tailor-made airfare, ticket and reservation exchange in the future.. Ticket and hotel reservations can be made through smart tokens that can be exchanged, split, combined and exchanged.. “We envision a future where travel products are customizable, interactive, and autonomous,” the company prospectus says.
Cryptocurrency trading and arbitrage platform
Bundle Network is a platform where users can connect to and from a single account. An online exchange platform that allows click-to-click trading and works in conjunction with various cryptocurrency exchanges. Users can purchase different cryptocurrencies in groups or individually on this platform, where they can compare prices and arbitrage between different exchanges.. Headquartered in London and a development unit in Switzerland, the start-up plans to raise $40 million from global investors.. The company will also hold a token generation event (Token Generation Event – TGE) similar to the initial coin offering through another business in Malta.. Bundle Network is already getting commitments from family and friends for this event.. The company’s prospectus includes information that the Bundle Network will offer 510 million Bundle Tokens (BND), which will bring its value to $100 million. million dollars in revenue. The revenue model is nearly identical to traditional stock market platforms.. As a standard, 0.5% commission will be charged on each transaction performed.. There are over 1,000 cryptocurrencies and 500 online private exchange platforms in the world.. Cryptocurrencies are expected to reach a market cap of US$5 trillion by 2025.
Source: World
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