RegTech 100 company Gecko Governance is looking to raise $20m (€17.7m ) via an initial coin offering (ICO).
The company recently received a license from regulators in the Isle of Man to launch the ICO which is open to investors worldwide, including accredited investors in the U.S. It will use the proceeds to develop a new global compliance solution.
Based in Dundalk, Ireland, Gecko has developed a Blockchain solution for financial services regulatory compliance.
Using a blockchain-based system, it aims to ensure that those using its financial services solution have access to data that is live and can be independently verified and audited. It now plans to extend the solution to cover token sales.
GECKO’s new GECKO Crypto1 solution aims to become the industry standard for Token Sale regulation and compliance, providing investors with the same levels of transparency, compliance, and accountability at every stage of a Token Sale, a service that GECKO currently provides for traditional investments.
“In just a few years, growth in Token Sales have accelerated at a surprising rate, with organisations raising $6.8bn last year alone. We believe that even with this rapid growth there is pent-up demand waiting to be unlocked if the market can demonstrate greater transparency and accountability,” said Shane Brett, CEO and co-founder of GECKO.
“With GECKO Crypto1, we will be able to offer a compliance system that will bring transparency to Token Sales, unlocking the market’s full potential by allowing a new investor base, such as large institutions, the opportunity to participate with confidence.”
GECKO Governance is a RegTech fund management regulatory solution that allows users to schedule, manage and monitor a large portfolio of investment fund’s regulatory & compliance requirements in real-time. Fund companies use GECKO to manage AML/KYC, Operational Due Diligence (ODD), Fund Launches and Investor On-Boarding.
Last year, GECKO was hand-picked by a panel of industry experts for the RegTech 100, a list of companies that every financial institution should know about in 2018. The RegTech 100 is part of the Global RegTech review – an essential, in-depth analysis of the global RegTech market.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
