Future Fund, a company building a blockchain micro-investment platform, has pocketed $3.8m from a private sale round.
Future Fund is building the micro-investment platform that will be fuelled by cashback rewards – credit or debit card bonuses that refund cardholders small percentages of the amounts spent on purchases.
Funds gathered by customers through cashback rewards will be collected in individual accounts on the Future Fund platform and then invested by a specialised investment fund.
Future Fund claims that further funding rounds are planned for the second half of this year. Currently, the business is developing an MVP app, building its community, and creating a network of partnerships required to create a fully operational Future Fund ecosystem.
Future Fund co-founder Grzegorz Grzegorski said, “Blockchain tech has matured enough and can be utilised to create entirely new solutions in the world of traditional finance. Future Fund, the project we are building, is a revolutionary undertaking where blockchain and a community of enthusiastic consumers are going to change how cashback works – i.e. the amounts that sellers return to customers for shopping at various stores, both online and offline.
“They seem small only at first glance. Pooling them all together over the course of a year, the result is an amount that can generate a stream of additional, noticeable income over time and – in the long run – become a personal retirement “fund”. Today, it’s mostly marketing and tech platforms that benefit from cashback rewards. We are going to make this money work for Future Fund’s community.”
On the topic of the funding round, Grzegorski added, “We’re very happy with the result of the private sale round. This capital secures the future of Future Fund and will allow us to build a fintech company based on real innovation in the area of saving and investing in spite of tough market conditions. We combine the experience of our advisors and team members in the area of traditional and decentralised finance”
Singapore-based neobank Stashfin recently received $270m in a funding round comprising debt and equity.
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