Ethereum-based investment fund platform, ICONOMI, has set a record by raising the 11 th largest crowdsale in history through its Initial Coin Offering (ICO), which was completed last month. In September, the Slovenian-based company announced that it had raised more than $8.9 million in operational capital and equity through an ICO, raising $3 million in the last three days. The first funds were presented at Ethereum’s Devcon2 last month in Shanghai. However, this latest news from the company shows that it managed to raise $10,576,227 from nearly 4,000 investors worldwide. This makes it the 11 th largest raise in crowdsale history for any category and takes third place as the largest FinTech crowdsale, behind The DAO and Ethereum. Investors can expect to receive their ICN tokens, which function as shares, on October 9. Changing the Face of Fund Management Through the ICONOMI platform, users will have the option to develop their own managed baskets of digital currencies, which can then be invested in by other users around the world. It is through this approach that ICONOMI is aiming to change what is currently in place by developing a disintermediated alternative to the multi-billion fund management industry. During the ICO five different currencies were accepted. There were three digital currencies: Bitcoin, Ethereum, and Lisk, and two fiat currencies: U.S. dollars and Euros. In total, just over 6,900 Bitcoins were raised, under 200,000 Ethereum, under four million Lisk, more than $121,500, and less than €2.4 million were invested. Plans for the Future Now that the ICO has closed attention will turn toward how the money will be used in the future. The company has announced that they will use the money to increase its development, which will include further hiring, investment in new office space, and the growth of two funds […]
