Fvndit is a California- and Vietnam-based fintech company, focused on solving the working capital problem for SMEs using technology. The firm has announced the launch of its $10M equity backed security token offering. The funds raised will be further used to propel Fvndit’s objectives as the market leading SME-focused crowdfunding platform in Vietnam.
What Fvndit Does
Fvndit, pronounced like “Fund it”, is focused on solving the working capital problem for SMEs using technology. Today, SMEs account for more than 40% of Vietnam’s GDP (of $241B USD) but still remain largely neglected by traditional banks. Fvndit owns and operates eLoan, the leading online Peer-to-Peer (P2P) funding and investing marketplace in Vietnam for SMEs. SMEs often have to wait up to 90 days on their receivables from overseas clients. Banks don’t like to lend to small enterprises and the approval processes take long. Fvndit enables SMEs to get access to working capital based on their trade receivables in less than 24 hours from submitting the application at a competitive rate
Fvndit Security Token Offering
With the launch of Fvndit STO, the firm aims to finance growth quickly and reach as many investors as possible globally with increased transparency and greater efficiency. FVND security token will be issued on the Ethereum blockchain using the ERC20 protocol and is linked to a direct ownership stake in Fvndit through a designated preferred equity class and entitles holders to financial rights and dividends.
The STO will be conducted in multiple phases with a target raise of $10M USD and is open to both US and non-US investors. This is a US-compliant offering pursuant to applicable Regulation D (506c) and Regulation S exemptions of the SEC. Securitize will act as technology partner for the issuance and lifecycle of Fvndit’s digital securities, which will be managed by Securitize’s DS Protocol.