The Issuer stablon USDC and operator of bitcoin exchange Poloniex company Circle has announced the completion of the purchase procedure is a crowdfunding platform SeedInvest. As stated in the company blog, the deal, whose terms were not disclosed, was completed after obtaining permission of the Agency on regulation of activities of financial institutions (FINRA).
Today, we are delighted to officially welcome @SeedInvest to the family Circle, after receiving approval from FINRA. https://t.co/HWqQVBAZfW
— Circle (@circlepay) March 4, 2019
As representatives of the Circle, the acquisition of SeedInvest, one of the pioneers in the field of crowd funding, was another step towards the company’s commitment to create a more open and accessible to everyone all of the global financial system.
“Today SeedInvest is one of the market leaders, giving startups the opportunity to raise capital directly from investors via the Internet. This creates new options for capital formation for startups, while ordinary retail investors have direct investments in innovative companies”, — reads the statement of the Circle.
First of intent to purchase SeedInvest Circle became known in October last year. It is expected that the Circle will provide startups the opportunity to raise funds through a new platform through the sale of tokens. While SeedInvest “will continue to function exactly as today, but will receive additional support.”
“We believe that the tokenization of financial assets will help in raising capital for growing companies and open investment opportunities for people around the world,” — said in Circle.
SeedInvest was founded in 2012. The firm managed at the time to raise $11 million investment. During its existence the company has helped other startups to raise funds totaling $120 million.
We will remind, in mass media there were unconfirmed information that the Circle intends to raise an additional $250 million investment.