Baanx, a mobile digital banking app, payments engine, and cryptocurrency platform, has successfully secured its initial £600,000 equity crowdfunding target on Seedrs. The funding round was launched last month and has so far attracted nearly 350 Seedrs investors.
As previously reported, Baanx was founded in 2018 and is looking for real change in the Digital Banking and Cryptocurrency sector. The company further explained:
“In short, the Baanx vision is highly ambitious. We are building an alternative financial infrastructure, running adjacent to the existing financial system from end-to-end. Harnessing the potential of blockchain technology to launch mobile banking brands that connect user communities together in the Baanx network.”
Baanx has notably partnered with new brands in new countries and regions, most of which are not in banking already but have large user communities to connect together – this model allows us to grow our financial network.
“In short, the Baanx vision is highly ambitious. We are building an alternative financial infrastructure, running adjacent to the existing financial system from end-to-end. Harnessing the potential of blockchain technology to launch mobile banking brands that connect user communities together in the Baanx network.”
Baanx is planning to use the funds from the Seedrs campaign for the following:
- Hire additional team members to grow our team of 16 to 25 to handle launching new brands
- Marketing (conferences, upgrade website + marketing materials).
- Launching Baanx services in Asia and South America
- Deliver further currency cards to connect to our partner communities
Baanx is currently offering 7.10% in equity at a £7,856,000 pre-money valuation. The campaign is set to close later this week.
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