Boom Technologies, a leading DeFi unicorn and e-commerce provider for the unbanked, has secured $500 million in growth capital from a prominent Dubai-based family office. This substantial investment marks a significant milestone for the company, which is now inviting both retail and institutional investors to purchase equity using either cryptocurrency or cash.
Boom Technologies' innovative DeFi ecosystem aims to bridge the gap between cash-based fiat economies and the global digital marketplace. This initiative is particularly significant for billions of unbanked individuals who can now securely store, move, exchange, send, receive, and spend their cash online with full control. The company's crypto-enabled equity offering targets to raise $47 million, reinforcing its mission to democratize financial inclusion by allowing a broader range of investors to partake in its growth.
Peter Alfred-Adekeye, Founder and CEO of Boom Technologies, emphasized the importance of this endeavor, stating, "As champions of financial inclusion, we are honored to democratize access to equity investments, allowing both retail and institutional investors to acquire our shares with crypto and cash and benefit from the tremendous value we are creating."
The investment details are noteworthy: the minimum investment is set at $25,000 for retail investors and $250,000 for institutional investors, with accepted currencies including all fiat and cryptocurrencies. A total of 4.75% of Boom Technologies (UK) Ltd. equity is available, and the investment window is from Aug. 8 to Oct. 8, 2024. The first $5 million invested will receive a 10% equity bonus.
For more information, potential investors can visit the official Boom Equity Investment page.
Boom's DeFi ecosystem includes partnerships with industry leaders like Fireblocks and collaborations with the Bank for International Settlements. With over 100,000 app downloads within two weeks and a rapidly growing user base, Boom is poised to shape the future of global e-commerce without banking. This development sets new standards for financial innovation and presents substantial implications for the global financial landscape.
The Boom DeFi Ecosystem consists of the Boom blockchain as the layer-1 payment rails, the Boom superapp, and Boomswap at layer 2, where value is exchanged between merchants, consumers, and traders using Boomcoin (BMC), the ecosystem's native digital asset. Through the Boom Foundation, the nonprofit arm, the company deploys grants of crypto-for-social-good, further emphasizing its commitment to financial inclusion and social impact.
