TokenMarket, a United Kingdom-based investment platform has revealed plans to raise $350 million in funds for tech startups in the Middle East and North Africa region. The plan was revealed by TokenMarket’s CEO, Ransu Salovaara.
TokenMarket was founded in 2016 to provide tools and funds for Blockchain startups to thrive globally. The platform crowdfunds diverse startups in the Blockchain business. The business currently has over 170,000 investors in over 150 countries and has raised $350m for over 30 companies in one year.
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The CEO of TokenMarket, Ransu Salovaara explained that the MENA region has a huge untapped potential in modern fundraising techniques. TokenMarket will take advantage of this potential to raise funds for local tech startups and young companies.
Over the year, blockchain in the MENA region has grown at a compound rate of 70% and will accrue over $307 million by the end of 2021.
Before now, TokenMarket has raised nearly $350m for 30 startups. This same amount will also be raised for tech startups in the MENA region by 2021. The fund will be raised through the sales of security tokens and bonds via the blockchain technology.
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