UK based Smartlands will be tokenizing its own equity selling a 3.5% equity stake in the platform, according to a note from the company. Smartlands is a digital security issuance platform that claimed earlier this year to have tokenized the first property investment in the UK. Last July, Smartlands boldly predicted it would tokenize a whopping $1 billion in “real world assets” by the end of 2023.
Smartlands said it will be selling equity in itself, Smartlands Holding Ltd, worth $1,000,000 through a security token offering in partnership with IIP Securities, a FINRA-licensed broker-dealer in the US under Reg D and Reg S. Pre-money valuation has been pegged at $28.6 million. The new capital will be used for a predicted global expansion and the development of a digital payment product “Smartee” as well as the distribution of Smartee “co-owner payment cards.”
Ilia Obraztsov, Smartlands CEO, issued the following statement:
“This offering is a part of our bigger strategy of bringing in investments through the sale of a 12% equity stake. Our funding target is $3,900,000, most of which we plan to achieve through traditional fundraising. While in talks with VC funds and crowdfunding platforms, we want to give our community, individual investors, and crypto enthusiasts, a chance to acquire a stake in Smartlands. For the first time we’re making the tokenised shares issued on Smartlands available for the members of our US community and some other previously untapped geographies. We believe that tokenising our own equity is the future of fundraising for startups. This mode of crowdfunding far exceeds other types of public offerings in speed, efficiency, and transparency at much lower costs, potentially bringing a much brighter promise of liquidity.”
Smartlands intends on building a “global digital banking ecosystem with Smartee being a big part of this goal. Smartee users may be able to receive, store, and transfer EUR, GBP, USD and the most popular digital currencies in a mobile app with a built-in digital wallet.”
The app is said to be available for download from the Google Play Store with the Apple App Store version forthcoming.
“We already began to implement our Co-owner model, in which we allocate 6 million of Smartee shares to the first 1 million users who register an account and pass KYC. Soon we will begin distributing the physical payment cards and roll out new features,” said the company.
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