Vemanti Group’s Portfolio Company Fvndit Launches Equity-Backed Digital Security Offering
NEWPORT BEACH, Calif., May 21, 2019 (GLOBE NEWSWIRE) -- Vemanti Group, Inc. (OTC PINK:VMNT), a technology-driven multi-asset company, today announced that its portfolio company, Fvndit, Inc. (“Fvndit”), has launched a $10M USD digital security offering. Proceeds from the raise will be used to further propel Fvndit’s business objectives as the market-leading SME-focused funding platform in Vietnam. The Company current holds 20% interest in Fvndit.
Fvndit is a California- and Vietnam-based fintech company, focused on solving the short-term working capital problem for SMEs. It’s using technology to re-build core parts of the business funding infrastructure and make the underwriting and financing seamless for small businesses. Its wholly-owned subsidiary, eLoan, JSC (“eLoan”), is the market-leading online Peer-to-Peer (P2P) lending platform for SMEs in Vietnam. Just in its second year of operations, it’s already experiencing double-digit growth in month-to-month revenue with over $1M USD per month in loan disbursement.
Digital Security Offering (DSO) and Security Token Offering (STO) are terms used interchangeably to describe offerings of respectively. It is an innovative, transparent, and efficient capital raise method for private companies to reach as many investors as possible quickly and globally.
This is a US-compliant offering pursuant to applicable Regulation D (506c) and Regulation S exemptions of the SEC, open to both US and non-US investors. The newly issued digital securities (aka security tokens) are linked to direct ownership stake in Fvndit through a designated preferred equity class and entitle holders to financial rights and ongoing dividends. Further details can be found at and its official blog site:
Tan Tran, CEO of Vemanti Group, who has recently been appointed as Fvndit’s new CEO, stated, “We’re hugely excited about this new capital raise approach and very optimistic about future prospects of Fvndit as well as for our shareholders. We trust that investors will find this a tremendous opportunity to be a part of a fast-growing company in one of the world’s hottest economies. As the business model has already been proven and with the first-mover advantage on our side, now is the time to scale it up. Additional capital will strengthen Fvndit’s position as the de facto business financing platform.”
About Vemanti Group, Inc.
, Inc. (OTC PINK:VMNT) is a technology-driven multi-asset company that seeks to be active in high-growth and emerging markets. Our core strengths are in technology development and investment. We drive growth through acquisition and investment in disruptive and foundational technologies by targeting early-stage companies that have market viable products or by starting a new subsidiary of our own. Strategically, we focus mainly on fintech applications combined with other emerging technologies, including blockchain and machine learning/AI.
About Fvndit, Inc.
, Inc. (“Fvndit”), pronounced like “Fund it”, is a California- and Vietnam-based fintech company, focused on solving the working capital problem for SMEs using technology. The team is comprised of engineers, designers, data scientists, trade finance and banking veterans across 2 locations: Irvine, CA and HCMC, Vietnam. It’s using technology to re-build core parts of the business funding infrastructure and make the underwriting and financing seamless for small businesses. Its wholly-owned subsidiary, eLoan, JSC (“eLoan”), operates an online P2P funding and investing marketplace in Vietnam, its current local market.
About eLoan, JSC.
, JSC (“eLoan”) is a marketplace that allows investors to lend money directly to small and medium-sized enterprises (SMEs) based in Ho Chi Minh City, Vietnam. eLoan is the first peer-to-peer lending company and one of the few fintech firms in Vietnam focusing purely on serving SME clients with short-term loans. Its platform is run on a proprietary AI-driven decision-making and credit-rating system. The company is a legal entity registered under the laws of Vietnam and is not affiliated with E-LOAN, Inc. and , a Division of Banco Popular de Puerto Rico.
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