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.
DISCLAIMER: This article was written by a third party contributor and does not reflect the opinion of Born2Invest, its management, staff or its associates. Please review our disclaimer for more information.
This article may include forward-looking statements. These forward-looking statements generally are identified by the words “believe,” “project,” “estimate,” “become,” “plan,” “will,” and similar expressions. These forward-looking statements involve known and unknown risks as well as uncertainties, including those discussed in the following cautionary statements and elsewhere in this article and on this site. Although the Company may believe that its expectations are based on reasonable assumptions, the actual results that the Company may achieve may differ materially from any forward-looking statements, which reflect the opinions of the management of the Company only as of the date hereof. Additionally, please make sure to read these important disclosures.
First published in Be Beez, a third-party contributor translated and adapted the article from the original. In case of discrepancy, the original will prevail.
Although we made reasonable efforts to provide accurate translations, some parts may be incorrect. Born2Invest assumes no responsibility for errors, omissions or ambiguities in the translations provided on this website. Any person or entity relying on translated content does so at their own risk. Born2Invest is not responsible for losses caused by such reliance on the accuracy or reliability of translated information. If you wish to report an error or inaccuracy in the translation, we encourage you to contact us.
22 Million Euros and New Investors for Finleap Connect
Finleap Connect had ventured into other European countries early on. Specifically, the Berlin-based company is active in France, Italy and...
Dakhla: a New Project for the Valorization of Pelagics
The Department of Maritime Fisheries continues the implementation of the development plan of small pelagic fisheries in the South Atlantic,...
Gold’s 15 Count: How Low Can it go Next Week?
This week, the FOMC has “injected” an additional $54.20 billion dollars of “liquidity” into the financial system. This is far...
A Stock Market Correction Appears to be Underway
We note the huge rise in money supply although not in our opening piece that looks at the Fed its...
Roche is Awarded the Distribution of Reagents in Soria for Two Million Euros
Roche will be the company to distribute reagents in Soria. According to the budget application, the amount for the supply...
Featured6 days ago
The Fintech Ecosystem in Colombia Exceeds 322 Companies
Biotech6 days ago
Genomcore Finalizes its Entry into the United Kingdom after Increasing its Turnover by 73% in 2021
Business6 days ago
Cybersecurity Rising Among America’s Infrastructure Priorities
Crowdfunding6 days ago
Valsabbina Bank and Siav Purchase 25% of MyCreditService