Mash Announces 50 Million Euro Equity Round and Launch of Europe’s First Security Token Offering
Mash Group Plc, a Finnish FinTech company specialising in consumer lending and pay later solutions , has announced that pre-registration has begun for a Securitised Token offering (STO). Mash is partnering with DLA Piper, Trust and Token to offer professional investors the means to participate in the current equity round using both crypto and fiat currency. Deloitte has been selected to provide AML and KYC services. The whitelisting process will begin in October with the round closing in December 2018. The STO is part of Mash’s broader EUR 50 million equity round. Security tokens are not the same as utility tokens, as have been issued in a number of recent initial coin offerings (ICOs). The Mash security tokens are backed by assets and token holders would have voting rights and dividend rights of the company issuing the token. “Security Tokens by definition are securities”, says Mash CEO James Hickson. “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.” Founded in 2007, Mash offers consumer credit, as well as “pay-later” solutions for retailers in store and online. The group is present in Finland, Sweden, Poland, Luxembourg and Spain. “We continue to look for ways to innovate. When we considered how to approach our equity round,...