The Italian fintech platform Sardex Spa, founded in 2007 in Sardinia, has closed a million-dollar round on the equity crowdfunding portal BackToWork, raising 1.27 million thanks to 295 investors, through an SPV (Special Purpose Vehicle), set up specifically for the operation. The round had a minimum target of $712,000 (€600,000).
Born2Invest’s team of journalists gathers the most interesting business news in a single mobile application. It’s impossible to keep up with everything you’re interested in, but our companion app will help you keep track of the important news. Our app is being updated throughout the day.
SardexPay – a digital marketplace dedicated to SMEs
SardexPay is a digital marketplace that, with the support of dedicated brokers, allows registered SMEs to find customers and suppliers and buy and sell goods and services without affecting their liquidity in euros. The companies use, in fact, as a method of payment, the credit “Sardex”, a complementary currency (but not a cryptocurrency) for which 1 Sardex = 1 Euro.
Each member has a line of Sardex credit (at zero interest rate) thanks to which he/she will make the first purchases, which he/she will repay with sales to other members of the community. It is also possible to obtain additional financing (at zero interest rate) for investments related to the business activity. Finally, within the circuit, it is possible to involve employees and consumers thanks to dedicated programs (B2E and B2C). Technically, exchanges are carried out through a multilateral/multitemporal debit/credit clearing system and managed through a computer platform and a digital account.
In 10 years, SardexPay has generated a community that, to date, counts over 7,000 professionals, traders, and SMEs with more than 600 million transactions. Moreover, the adhering companies can obtain additional liquidity at zero rate and involve employees (corporate welfare) and final consumers (cashback in complementary currency).
Funds and institutions such as CDP Venture Capital, Fondazione di Sardegna, Primomiglio, Innogest. Fabrick, Nice Group and Melpart. In addition, the project has seen the involvement in recent years of numerous Universities, Research Centers, scientific journals, which have dedicated studies and research to the Sardex model and its social and economic impact, such as London School of Economics (2015, 2019), Yale University (2015), UCL (2015), Nature (2018) and others.
The funds raised will be invested to scale the business nationally, specifically, to complete direct national coverage, community development with the goal of quadrupling membership and achieving an annual transactional reach of 500m, and to further develop the technology.
For Backtowork this is the second millionaire campaign in the first 6 months of 2021, after the one related to the real estate project in Milan Via Faravelli which had collected 1.2 million, bringing the total collection of the platform in the first part of this year to 6.5 million for 17 projects funded.
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 Crowdfunding buzz, 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.
The ETF Market Reached €589 Billion in the First Half of the Year
Global indices recorded the bulk of flows in Europe with $40.5 billion (€34.3 billion) followed by the U.S. and North...
The Metaverse Is the Way of the Future, and Facebook Just Confirmed It
The metaverse is a fast-emerging reality billed to become the place where we will all live and work in the...
The Spanish Health Tech Sector is Advancing at a Fast Pace
Although the major poles of innovation in digital health are mainly in the major world powers such as the United...
Why Were Cotton Futures Lower for the Week
Cotton futures were lower last week on demand concerns as ideas of strong demand continue. The weekly export sales report...
Fed: Murderer of Markets and the Middle Class
To this point, Total non-financial debt has skyrocketed from $54.3 trillion, at the start of the pandemic, to $62 trillion...
Cannabis5 days ago
First Legal Cannabis Crop Harvested in Ecuador
Featured6 days ago
Mining Companies with High ESG Ratings Outperform the Market in Financial Performance
Business5 days ago
Is Peer to Peer Lending Safe for Investments?
Featured6 days ago
Which Financial Products Have Grown the Most in 2021?