Blockchain securities issuance platform Globacap closes Seed funding round

UK-based Globacap aim to bring the ICO form of capital raising into the regulated market.

Globacap, a new start-up aiming to bring blockchain-based technology to help SMEs raise capital, has closed an $800k seed funding round led by Stoic Capital and ContactPartners.

Other backers included Christian Schulte, co-founder of Steinbeis Mittelstandsfinanzierung, which provides financing to mid-sized companies in German speaking territories, and Stephen Russell, formerly of UBS. 

Globacap lays claim to be bringing the ICO form of capital raising into the regulated market using an automated platform that issues debt and equity securities as blockchain tokens. 

Investors received regular shares in Globacap, which become equity tokens at its ‘Digital Security Offering’ (DSO) in July.

The DSO, the firms says will be the first regulatory-supervised equity issuance on blockchain in the world. This, it adds, will act as a proof of concept for the platform and be followed – al being well - for launch in Q4 2018.

Robby Dermody, Principal at Stoic Capital, said: “We were part of the early experiments with tokenized assets on Counterparty in early 2014, so it is exciting to see the promise of security tokens really starting to take shape.”

“We look forward to working with the Globacap team in their mission to bring digital securities into the regulated space. We are excited about their goal to help small and medium enterprise gain access to global capital, as well as create interesting new opportunities for investors.”