Ripio raised $31M during private tokensale

Argentinian blockchain based start-up raised big money in a private tokensale
12 October 2017   2523

The Argentinean start-up Ripio attracted $ 31 million during the private sale of RCN tokens. This is reported by CoinDesk.

The founders of the project attract investments to create a network of Ripio Credit Network, which unites borrowers, creditors and guarantors. Borrowers and lenders interact through Ethereum-based RCN tokens, and the guarantor undertakes to provide sufficient volume of lending operations to predict return on investment, debt management in the borrower's country of residence and to receive money on the debt obligation in case of default.

During the pre-sale in Ripio, FBG Capital, Maple Ventures and Blacktower Capital invested. According to the developers, investors from all over the world showed interest in the project, including Russia, South Korea and Canada.

We are extremely excited, that our pre-sale campaign was supported by both leaders of the blockchain industry and individual investors from all over the world. Our goal is to widen financial inclusion by extending credit lending globally, and for implementing it we have to have supporters worldwide.
 

Sebastian Serrano
Co-founder and CEO, Ripio

The launch of Ripio Credit Network was announced in September this year. In January, the Argentine start-up, previously working under the name BitPagos, attracted $ 1.9 million in investment and get rebranded. Venture funds Huiyin Blockchain Venture, Boost VC, Digital Currency Group and Draper VC invested in the project.

Dutch Crypto Startup Founder Busted

Komodore64 said they developed blockchain games and sold $86 000 000 worth K64 tokens, but investors don't receive any profit
13 November 2019   172

Dutch police arrested the founder of blockchain startup Komodore64, who allegedly raised $ 86 million from private investors. The company has already filed for bankruptcy, and investors and employees accuse it of fraud, according to Sprout.

Komodore64 developed blockchain games and invited investors to invest in the K64 native token. One of the investors, the newspaper writes, lost 600 thousand euros. As soon as partners and employees publicly stated that they had not received the promised fees, the company filed for bankruptcy.

Founder Sam Narain allegedly convinced investors that the startup supported the banking giant Goldman Sachs, but a group of bank representatives at one of the meetings turned out to be fraudulent.

In recent weeks, Narain has been living in the Hague Hilton, where he was hiding from angry investors. The names of his possible accomplices are still unknown, as is the fate of money.

Employees claim that only a party in honor of the launch of the project cost tens of thousands of euros.