Mash Group, an online lending platform, is looking to secure €50m in an equity round and launched a security token offering.
The Finland-based FinTech has started the pre-registration of its token offering.
Mash has teamed with DLA Piper, Trust and Tokeny to offer professional investors the ability to contribute to the funding round through both crypto and fiat currency. Deloitte will provide AML and KYC for the funding.
Its whitelisting process will begin later in the month and will close at the end of the year.
The security tokens are backed by assets and holders gain voting rights and dividend rights in the company.
Founded in 2007, the company offers consumers access to credit lines and a pay-later solution for retailers, in-store and online. The company partners with e-commerce platforms and lets their customers either pay later through invoice or instalments, with a credit limit of €10,000.
Mash uses real-time credit ratings and verification to approve purchases of up to €3,000. The company is currently in operation in Finland, Sweden, Poland, Luxembourg and Spain.
Mash CEO James Hickson said, “As such, they are subject to securities regulation and oversight. We are working closely with our partners to ensure we are fully compliant with security laws and regulations on a platform that can manage the process of issuance and management through the lifecycle of the asset.
“The STO is only open to professional investors, with each token having the same voting and dividend rights as one ordinary share of Mash.”
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