StartMark is the second security token offering (STO) to be approved by the German Financial Regulatory Authority (BaFin). It is currently conducting its private sale round.
After Bitbond, BaFin recently cleared the second STO ever in the country. Called StartMark, participants can buy ‘SMK tokens’ and have a stake in the company’s portfolio.
StartMark is operating a portfolio of investments under its ‘Made in Germany’ banner: start-up in Germany which boast strong fundamentals and operate within the investor scene of Dusseldorf and the are of North Rhine-Westphalia. Making up some 21.4% of the country’s GDP, StartMark believes this to be an area primed for growth.
Given that Bitbond was such a massive success, StartMark wanted to follow in its footsteps. Moreover, the barrier to entry is relatively low with a minimum €100 for investors. The token sale for StartMark will occur in three parts.
- First, the private sale for 30% discount will run into late September.
- Then, a pre-sale will run from October until late November.
- Finally, from December until July 2020 there will be a public token sale.
StartMart, if successful, could prove that a new way to crowdfund for SMEs is possible in Germany and beyond. Earlier this month, the company also joined the Security Token Alliance as a member.
Do you believe that we will see other STOs approved by BaFin by year’s end? Let us know your thoughts below in the comments.
Image courtesy of StartMart.