A London based startup is building a challenger platform for Capital fund raising for Enterprises based on Blockchain and Artificial Intelligence technologies.
LONDON, BERKSHIRE, UNITED KINGDOM, December 10, 2018 /EINPresswire.com/ — Sovren announced on Friday 7th of December, 2018, that it has raised $1,150,000 through a Seed funding round, which was led by Chaintechplc a leading Blockchain fund and incubator based in London. This follows their successful Seed Round from 2 key Institutional players in Blockchain, NextGenFund and BFG from Switzerland and South Korea respectively.
Sovren, a challenger in the Security Token Issuance (STO) and Trading Market, is on a mission to fundamentally change the way traditional capital funding and Initial Public Offerings (IPOs) operate today. Through adoption of Blockchain technologies, automating business processes through Robotic Process Automation (RPA) and Artificial Intelligence, the cost and timescales for funding will be significantly reduced whilst access to investment products will be made available to an audience of investors that to date has not had the opportunity to invest in these new innovative products, such as asset backed loan products.
Sovren is also aiming to create a secondary market for Security Tokens. Through its Blockchain based Mobile Application, regulated securities products, stocks and STOs, will be available to trade safely and securely.
“Our mission is to make the trillion dollars of illiquid assets, liquid and available to the global trading market. Blockchain and AI technologies will streamline fund raising and investment businesses that to date have seen very slow progress for innovation, specifically when it comes to making use of the best technologies to make investment more accessible to a global audience to build and create wealth. “said Avijeet Jayashekhar, founder and CEO of Sovren.
“My main motivation for launching Sovren was driven out of the fact that I have always felt investment and wealth building was an exclusive market controlled by the few. I entered the Blockchain space as I felt it will break this mould, for the first time wealth was being built by global communities of investors, investing in projects they believed in, not controlled and distributed by the few “ said Wynand de Jager, founder and CTO of Sovren.
“We are now very excited to appoint Mr. Peter Kudera to the Sovren’s Board as an important next step in our continued growth. He will bring a wealth of experience to our business having had a long career as a prominent and successful business man, including now in Blockchain. The Sovren technology will be at the forefront of bringing innovation to capital markets and we have no doubt that having Mr. Kudera on board will further enhance our trajectory to making our ambitious project a reality “ said the Sovren Founders jointly.
In regards to the company’s growth and development, Peter Kudera, Chairman at Chaintechplc added:
“Capital fund raising through Blockchain and Security token issuance is the beginning of a new era of Financial revolution and the market is ready for global adoption. It empowers business owners to raise funds through innovative regulated products other than just traditional equity or debt issuance. Fund raising through fractional ownership of security assets executed over Digital smart contract will challenge the very existence of Traditional Stock Exchanges. We look forward to support Sovren and be part of their mission to bring Fintech innovation in the regulated digital securities market.”
Sovren is raising another $2 Million to accelerate the growth of the business and close the current investment round. The funding will be used to complete the delivery of a full suite of products related to making financing and investment more accessible to main stream investors with a target launch date of mid-2019.
For more information visit https://sovren.app
Head of Investments
Sovren is headquartered at Techhub, 20 Ropemaker St, London EC2Y 9HU.
SOVREN SECURITIES TRADING
Source: EIN Presswire