Pledgecamp raised $17 million in private funding blockchain project plan. The blockchain technology-based crowdfunding platform has been advised by big names in the crypto sphere including Randi Zuckerberg, the founder, and CEO of Zuckerberg Media, Keith Teare, the founding shareholder at Techcrunch, and Matt Curcio, the VP Data at Ripple up to $3 million sales of the public token.
Pledgecamp is trying to bring a remarkable change in the existing crowdfunding model with the help of smart contract-user Backer Insurance escrow model. The San Francisco-based company was founded by the Kickstarter veterans from the crowdfunding field including Eddie Lee, Jae Choi, and Sam Pullman.
Apart from Pledgecamp, the team of Pullman, Lee, and Choi introduced many crowdfunding campaigns on the platform of Kickstarter and were successful at raising $2.2 million. Even now this performance remains one of the topmost campaigns on this platform. However, there are certain flaws in this platform. According to Choi, Pullman, and Lee, the platform is inefficient for the participants, especially for the investors who invest in a startup project.
Investors usually suffer great loss in the project plan that does not deliver as expected and there is no means left to recover the funding. These outcomes are caused due to misaligned incentives between the participants involved in the process, Forbes reported. Platforms like Pledgecamp supplement their model of crowdfunding with a decentralized and open marketplace for participants so that they can contribute skills to the startups and contribute to the development of a broader ecosystem.
Blockchain banking BABB recently completed its equity crowdfunding via Crowdcube successfully. The firm raised around £1,400,000 in the crowdfunding participated by 1,232 investors. According to IBS Intelligence, the firm will use this fund to support banking license applications of BABB in the Lithuania and UK.
While discussing the project plan of BABB, the Chief Executive Officer of the banking firm Rushd Averroes said, “This funding marks another critical milestone as we move towards our goal of improving lives and livelihoods and creating new opportunities for individuals and businesses across the world.”[The views and opinions expressed in this article are those of the authors and do not necessarily reflect the views and/or the official policy of the website. ]