Asset Service plans to raise €500,000 through a crowdfunding campaign

Asset Service, an Italian company active in the wholesale telephone credit business, is working on a crowdfunding campaign aimed at financing the acquisition of a competitor by 2021. The collection, which has a target of $598,000 (€500,000), will start in September on the WeAreStarting portal. 

The acquisition will be made through the entry in the share capital of one or more investors and will be managed by AC Finance of Antonio Quintino Chieffo. The latter has been following the financial strategies of Asset Service for a year, including a capital increase of more than $299,000 (€250,000), subscribed at the end of July by Federico Mini, Luca Vatteroni, Susanna Duina and Nicola Di Marzio.

Find out more about the intention to raise half a million Euros that the company Asset Service plans to do through a crowdfunding campaign on the WeAreStarting portal, funds it plans to use in order to achieve its competitor, with our companion app. The Born2Invest mobile app gathers the most important financial headlines in the world for you to stay informed.

Asset Service srl was founded in 2018 and is based in Usmate Velate (Monza Brianza)

The group was founded by Alessio Castronovo and Daniele Frontini. It is also participated by Alessia Tartaglia, Maurizio Frontini, Federico Mini, Luca Vatteroni, Susanna Duina, Nicola Di Marzio, Ivan Bellin and Giovanni Anania.

Asset Service deals with buying and selling telephone credit on a monthly basis, where customers and suppliers are exclusively certified telephone operators. The main objective of the company is to become a point of reference in the telecommunications sector, through the management and optimization of telephone wholesale activities, operating in the wholesale purchase and sale of telephone traffic on the international market. 

The exclusive sector of telephone wholesale is difficult to enter, however Asset Service allows private partners to participate in the business model, intervening directly in the telephone trade routes. The company has significantly increased its turnover in just two years. It closed 2019 with revenues of $371,000 (€310,000) from $27,500 (€23,000) in 2018.

“Asset Service is a very interesting company. We are convinced that we can go a long way together and achieve excellent results,” commented Antonio Quintino Chieffo, CEO of AC Finance. The CEO of Asset Service Alessio Castronovo explained: “We are a rising reality that aims to consolidate. The health emergency related to coronavirus certainly gave a strong boost to the telecommunications sector. In fact, there are many companies that are asking for more and more services. We aim at an acquisition to be completed by 2021 and we will do it through a collection of crowdfunding.”

The WeAreStarting platform was founded in Bergamo at the end of 2014 by Carlo Allevi. WeAreStarting srl is a new equity crowdfunding platform registered in the Consob register of portal managers for raising capital for innovative start-ups. The Consob resolution was passed last December 1st.

On WeAreStarting took place, last February, the first purchase and sale of shares of srl at no cost in Italy, using the alternative regime of quota header, which allows to follow a streamlined procedure and without costs.

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