Fintelum, the Latvian tokenization specialist, has just announced its inaugural security token offering (STO). This event will see Keepp, a Latvian self-storage company, issue a security token, in an attempt to raise €850,000 (roughly $1M USD).
Every STO is structured differently, whether it be the funding sought, event duration, issuance platform, etc.
In this particular event, Keepp is looking to raise €850,000. This will be achieved through the distribution of Ethereum based security tokens, sold in exchange for Euro/BTC/ETH from qualifying investors. The event, which is scheduled to run until March 2021, will be made possible through a collaboration with Fintelum.
The purpose of this event is a simple one – Keepp is hoping to expand its current network of self-storage facilities within Latvia. In order to achieve this expansion, Keepp has broken down its goal into four steps.
- Marketing – Raising public awareness of Keepp
- Manufacturing – 2-step process, with 50% of units manufactured in step 1
- Delivery/Construction – Installation of units manufactured during step 1, and manufacturing of remaining units
- Business Continuity – On-going facility management
Once complete, Keepp intends to broaden its scope of expansion, crossing borders into both Estonia, and Lithuania. It indicates that this expansion will require additional capital to be raised in the future.
Inaugural STO & Diverse Opportunities
Here at securities.io, we have detailed the progress being made at Fintelum on various occasions. Most recently, we highlighted its ‘STO Implementation Whitepaper’.
This document, which highlights the need for, and capabilities of, its issuance platform, can be found HERE.
Beyond simply being its inaugural STO, Fintelum has shown through its support for this equity raise that security tokens can serve a broad range of asset classes. While young, the security token industry has typically revolved around real estate based offerings, to date. This does not need to remain the case though, as an STO can be based on many assets, with the events structured as an equity offering, asset backed, dividend generating, bond issuance, and more.
The following are a few other unique offerings to have been held over the past few years, highlighting this ability for diverse opportunities.
With Fintelum having now launched its first STO, it is only a matter of time before these tokenization specialists begin offering opportunities similar to those described above.
Founded in 2019, KEEPP Self-Storage is headquartered in Riga, Latvia. As its name implies, this young company specializes in offering local communities access to safe, clean, and accessible storage options.
CEO, Kristaps Laipnieks, currently oversees company operations.
Fintelum is a primary token issuance and secondary market platform with a focus on compliance and technology. Fintelum products range from compliance and blockchain technology to whitelabel, IT development, and advisory services.
Managing Director, Liza Aizupiete, currently oversees company operations.