Wecan.Fund, announces a 7-digit financing round with the Capelli Real Estate Group, Hyposwiss Bank, the Request Network Foundation, a reference in the blockchain ecosystem, the communication company Buxum, and the Wecan.Fund. and private investors.
First Geneva-based company to contribute digital tokens
Part of the fundraising was done in kind in the form of digital tokens. This is a desire on the part of WeCan.Fund, in line with its field of activity, and a first in the canton of Geneva. In Switzerland, no company had ever before made a contribution in digital tokens for a capital increase. The steps involved required a great deal of coordination between the various experts involved, from the notary to the auditors and the administration of the Commercial Register.
Anticipating the volatility of the cryptomoney industry
Particular attention was paid to the calculation of the amount of the tokens as well as the margin to be applied to protect against the volatility of digital tokens. A meticulous analysis of the price fluctuation has been carried out in order to ensure that the investor and WeCan.Fund have a sufficient margin between the contribution of the digital tokens, the general meeting and the registration in the Trade Register. The planned contribution was thus increased by 15%.
Many new developments
In the 24 hours prior to the general meeting of shareholders ratifying the fund-raising and registration with the Commercial Register, the crypto-currency market was subject to very high volatility. The majority of chips lost more than 20% of their value, thus invalidating the announced investment. The blockchain made it possible, in a very simple way, to invest an additional amount and margin of tokens in a few minutes. The registration in the Commercial Register and the capital increase were finally validated in time.
WeCan.Fund is convinced that digital token contributions will be increasingly used. Switzerland has what it takes to become the leading location for block and tokenization of real estate. In this context, the company is determined to contribute to the competitiveness of the financial centre both in terms of innovation and added value.