The Suretly crowdsale has launched, selling tokens for a new ‘crowdvouching’ lending service.
Suretly began its ICO at 8:00 UTC today. The project, which will issue tokens on both Waves and Ethereum, offers a new kind of peer-to-peer lending service. Focusing on those with a poor credit history, the platform aims to bring together groups of investors who will vouch for lenders, covering debts in the event of default. Investors’ funding is not used for loans. Instead, it is used as surety, with investors acting as co-signers. The loans themselves are made by microfinance organisations.
The focus is on small, short-term loans of up to 30 days. Profits are distributed amongst vouchers and dependent on the credit rating of the borrower, though returns of up to 12% per month on average are expected.
Suretly is one of the companies that has recently completed the Starta programme — which itself raised $5 million at ICO in less than 24 hours last week. The Starta Accelerator takes promising Eastern European tech companies and prepares them for entry into the American market.
The Suretly team have an exhibition stand at the RISE conference in Hong Kong. The stall features a live webcam display which shows the amount of raised money so far in BTC, ETH, LTC and WAVES.
The project aims to raise between $1.5 and $8 million. For more information, visit http://suretly.com.