In this article we will review the Podcast Episode 154 which explains the crypto crowdfunding with Fintelum Project. We shall be discussing what Liza Aizupiete from Sin Talum said in an interview. This was while explaining the benefits of using Fintelum for crowdfunding purposes. Joseph, who is 65 years old and quite experienced with traditional finance and funding took this opportunity to ask her basic and advance questions about the platform. It was an interesting and informative interview.
What is Crowdfunding?
Crowdfunding is basically a fund raised for a project usually over the internet by contribution of large number of people who invest some amount in the project or venture. Usually the project conducts ICOs for crowdfunding purpose but Fintelum provides a new and better way of conducting this fundraising.
What is Fintelum Platform?
Fintelum platform is based in Latvia and it offers tokenized assets. So the investors can invest in the assets and receive dividends against it. This is entirely a new way of getting funds in the crowdfunding space and Fintelum may take this to the next level. It combines the traditional investment with crypto investments. They are in this field from 2009 and they have enough experience in trading funds and exchange traded instruments such as raw materials and commodities.
Mode of Investment
Another important thing is that you can invest using crypto and also fiat currency mainly Euro. So if you are using Fintelum platform you can have investment from both the crypto investors and also those who have fiat.
How it is done with Cryptocurrencies
Crypto investment which is collected is converted into Euros and paid into the shareholder capital account of that company specifically. So this means that by this mechanism you are investing directly into the Key project. You will be owning the shares from the key project, so you can consider this a direct investment.
Services They Provide
At the moment they provide the following Services
1- Selection of the project
2- Proper screening of the project so only legit projects exist on their platform
3- Transparent documentation on these equity offerings.
4- Also they provide technical Solution to collect the funds and convert it to fiat with proper legal and business advisory
Finally, they said that they are also working to get a license as a crowdfunding service provider. This would be from the European Union.