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.
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.