The global fintech platform Ternio has finished its first equity crowdfunding campaign this month. Ternio successfully raised $1.07 million from 3,890 investors while hosting its campaign on Republic.co. The valuation cap was set at $15 million with a minimum investment of $100. After closing the sold-out round on June 13, 2020, many investors were forced to join the waiting list.
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Ternio utilizes blockchain infrastructure designed to give real-world utility to digital assets in order to connect traditional enterprise, fintech and banking. Its white-label products harness the power of instant remittance and the benefits of operation on blockchain rails while adhering to compliance and regulatory standards. Ternio’s ultimate goal is to create products to bring blockchain technology and cryptocurrency into daily life.
Co-founder and COO Ian Kane said, “Investor demand exceeded my expectation and Ternio’s equity round was quickly sold out. There are many savvy Republic investors who saw our vision, loved what we are building, and wanted to be part of our journey as we build the next great fintech platform using blockchain.”
Chuck Pettid, CEO, Republic Crowdfunding Portal, said, “The crowd loved the idea of cryptocurrency having real-world products and it showed. Ternio’s campaign was one of the best we ever had from a total dollars raised and investor engagement perspective.”
The funds raised on Republic will allow the company to move into new markets, launch new products and grow its team. In May 2020, Ternio unveiled FDIC-insured checking accounts and Crypto Back Rewards when using BlockCard, its in-house payment card solution.
Readers outside of the U.S. can look forward to an international push in the coming months, including a BlockCard available to residents in 31 European countries to be followed by 150 other countries worldwide. In addition, the platform has plans to set up more comprehensive banking services to BlockCard account holders including loan services, full credit card utility and savings accounts.
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