SwissBorg (CHSB)’s Series A funding round started on Dec. 13, and 3,839 investors have already participated in the funding.
Community-centric funding round
SwissBorg reserved 28 74 million Swiss Franc Tokens (CHF) for the round. 3,64 million CHF is already sold, with 21.46 million remaining. The current price of CHF is set at $1,66.
Daniel de Lophem, Product Manager at SwissBorg, announced the funding round on Dec. 13 with a blog post, where he criticized the elitist model of approaching investors. Referring to the private deals held pre-IPO and public offerings held post-IPO, Lophem complained that the model offers no chance for the average person to compete.
Lophem wrote that SwissBorg is looking to change this segmentation and democratize access to equity for the whole community. He stated:
“Leveraging the decentralised ledger technology of Web3, we can consolidate the distributed liquidity of diverse retail investors into a single investment entity. As a unified front, we have the strength to shake up the established status quo.”
According to the announcement, SwissBorg aims to emerge as a European market leader from the current bear market.
SwissBorg
SwissBorg is a crypto exchange platform in Europe. The platform obtains a community-centric approach to asset management and sets its ultimate goal to “revolutionize asset management.”
The best valuation SwissBorg reached was $1 billion in 2021. The company has over 700,000 users that hold more than $63 million worth of crypto. In reaction to the FTX fallout, SwissBorg also published its proof of reserves on Nov. 18.
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