Business
Vemanti Group’s Portfolio Company Fvndit Launches Equity-Backed Digital Security Offering
Vemanti Group’s Portfolio Company Fvndit Launches Equity-Backed Digital Security Offering.
About this update from Vemanti Group Inc.
[{"type":"text","content":"\nNEWPORT BEACH, Calif., May 21, 2019 (GLOBE NEWSWIRE) -- Vemanti Group, Inc. (OTC PINK:VMNT), a technology-driven multi-asset company, today announced that its portfolio company, Fvndit, Inc. (“Fvndit”), has launched a $10M USD digital security offering. Proceeds from the raise will be used to further propel Fvndit’s business objectives as the market-leading SME-focused funding platform in Vietnam. The Company current holds 20% interest in Fvndit.\n Fvndit is a California- and Vietnam-based fintech company, focused on solving the short-term working capital problem for SMEs. It’s using technology to re-build core parts of the business funding infrastructure and make the underwriting and financing seamless for small businesses. Its wholly-owned subsidiary, eLoan, JSC (“eLoan”), is the market-leading online Peer-to-Peer (P2P) lending platform for SMEs in Vietnam. Just in its second year of operations, it’s already experiencing double-digit growth in month-to-month revenue with over $1M USD per month in loan disbursement. Digital Security Offering (DSO) and Security Token Offering (STO) are terms used interchangeably to describe offerings of digitized securities and tokenized securities respectively. It is an innovative, transparent, and efficient capital raise method for private companies to reach as many investors as possible quickly and globally. This is a US-compliant offering pursuant to applicable Regulation D (506c) and Regulation S exemptions of the SEC, open to both US and non-US investors. The newly issued digital securities (aka security tokens) are linked to direct ownership stake in Fvndit through a designated preferred equity class and entitle holders to financial rights and ongoing dividends. Further details can be found at https://fvndit.com and its official blog site: https://medium.com/fvndit-inc Tan Tran, CEO of Vemanti Group, who has recently been appointed as Fvndit’s new CEO, stated, “We’re hugely excited about this new capital raise approach and very optimistic about future prospects of Fvndit as well as for our shareholders. We trust that investors will find this a tremendous opportunity to be a part of a fast-growing company in one of the world’s hottest economies. As the business model has already been proven and with the firs...