Boomstarter.Network a blockchain-based startup funding platform, raised more than $1 million in early financing after venture funds and private companies joined its ongoing token sale.The fintech company is tokenising its existing business of generating pre-orders for startups that has been operational since launch in 2012. Boomstarter.Network is a leading provider of crowdfunding services for tech and business-oriented startups in Eastern Europe.
Boomstarter.Network is now set to use blockchain technology and cryptocurrencies to go global and remove significant limitations that restrict the growth of this market worldwide.
The world’s major crowdfunding platforms offer access only to entrepreneurs from a limited number of industrialized countries and are notorious for their long waiting times to send and withdraw money. They do not provide backers with any non-material means of supporting startups either.
In contrast, Boomstarter.Network will welcome startups from anywhere across the globe and connect them with backers to generate pre-orders of their products at early stages. This will ensure that entrepreneurs receive funds quickly and focus on product development, instead of struggling with transaction delays and excessive banking paperwork.
For those backers that do not wish to spend their own money, Boomstarter.Network will also offer tools allowing to safely mine cryptocurrencies and use them as a means of payment to pre-order products from startups on the platform.
Contributors to Boomstarter.Network tokensale include DTI, a hedge fund providing professional investment services and asset management. It is a global trading company with a special focus on high-tech market.
Earlier in 2018, the hedge fund expanded its portfolio by taking part in the initial public offering by the cloud storage company Dropbox Inc. and in the private sale of Telegram messenger, said Alex Butmanov, managing partner of DTI.
“There is a very strong chance that Boomstarter.Network can expand globally, building on company’s years of experience in this market. Our research shows that a large part of those involved in crowdfunding do not wish to be hampered by excessive regulations any more. Crowdfunding without borders will be a very efficient tool for testing demand for future products.”
Investing in ICOs, emerging projects that leverage blockchain technology and IPOs is a substantial part of the fund’s activities, as Eugeniy Galiakhmetov, founder of DTI, explains.
“My faith in Boomstarter.Network is based on its MVP over the six years that the company has been in business. It is the support of thousands of entrepreneurs who have successfully raised funds on this platform. This business is closely related to Storiqa, the crypto-based marketplace that successfully ran their tokensale and is now developing their product. Boomstarter.Network has all that it takes to replicate that success.”