FintruX Network is planning to raise 25 million dollars by selling digital tokens while building a global highway for peer-to-peer (P2P) loans based on Ethereum and no-code development. The company announced it has already raised 12 million dollars in its public presale held between January 7th and 21st this year.
The absence of cash flow is a problem that affects numerous small and new companies around the world. The local financing options are not accessible or have restrictive conditions which further restrict the liquidity instead of bringing the expected relief to the company.
FintruX will allow the global entrepreneurs to acquire affordable loans without guarantee and in any currency. This can be achieved with the company’s open ecosystem comprised of members and credit enhancers that reduces the complexity and the risk associated with the loans without guarantee. By reducing the risk for the lenders, affordable and reasonable interest rates can be offered to the borrowers.
During the sale of its tokens, FintruX Network offers up to five percent of bonus for the first participants.
The goal of the token sale is to raise a total of 25 million dollars in contributions. This fundraising round will enable the development and the expansion of the highway of P2P loans that connects small companies with lenders who have good reputation, in a matter of minutes and at prices lower than on the traditional loan markets.
FintruX Network is a blockchain startup backed up by technology experts from Robocoder Corporation. The objective of the company is to create a global highway of P2P loans based on the blockchain technology. The company would like to bring security to the loans without guarantee and its innovative concept solves three major problems that many small and especially new companies are facing when it comes to obtain financing through loans. By applying improvements to the traditional credit system, FintruX Network is trying to neutralize the risk for the lenders. In case of unfulfillment, there will be several cascade levels of security measures to cover the loss, which in turn will increase the general credit rating and lower the interest rates at the same time. The company has its headquarters in Singapore.