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- Waves Platform to raise second round of private investment in its "Vostok" project
- Vostok project consists of the Vostok distributed digital platform and the Vostok system integrator for enterprise and government IT systems
- Raise follows first round $120 million, funded by high net worth private investors from Europe, Southeast Asia, and China
- Raise gives Vostok a post-money valuation of $1.2 billion.
LONDON, March 15, 2019 /PRNewswire/ -- Waves Platform has announced the details of the second investment round for the Vostok project, which consists of the global Vostok distributed digital platform and the Vostok system integrator for enterprise and government IT systems, and already has investors from Europe, Southeast Asia, and China.
The second round will close on May 31, 2019. The plan is to sell up to 10% of project raising $120 million at an estimated capitalisation of $1.2 billion. The London investment group, Dolfin will structure and coordinate the deal.
The Vostok project was developed by the Waves Platform team specifically for large enterprises and public institutions, to enable them to build the foundation of a next-generation digital infrastructure. It was announced on April 12, 2018, and has since been tested by major global organisations including Sberbank. Currently negotiations are in place for the first Vostok-backed projects in Europe, Southeast Asia, and China.
In December 2018, Waves Platform successfully closed the first investment round for $120 million with the total valuation of the Vostok project $600 million - true testament to the flourishing fintech scene coming from and thriving investor appetite the platform has benefitted from already. The share of 20% of the project Vostok were received by private and institutional investors, who were selected according to their potential benefit to the development of the project.
Sasha Ivanov, founder and CEO of Waves Platform said: "The private distributed digital platform Vostok will combine technological developments and innovations we tested when building the international Waves platform, with the advantages of other end-to-end digital technologies such as Artificial Intelligence, Big Data analytics and the industrial Internet of Things. In each of our strategic markets, we are launching an integrator company, with the help of which an ecosystem of Vostok solutions will be built. Second round investors will provide us with, among other things, opportunities to enter new markets."
Danis Nagy, CEO Dolfin said: "Vostok's present-day objective is to attract big institutional investors, including mutual funds and venture capital funds.
We are delighted to have an opportunity to continue working on this project and are thrilled to see a growing interest in Vostok from businesses and investors alike".
About Waves Platform
Founded in 2016, Waves Platform offers easy-to-use, highly functional tools to create decentralised applications. It's an enterprise-ready platform that emphasises security, easy digital asset operations (creation, transfer, exchange) and a straightforward user experience. It has also developed into one of the largest tech communities worldwide and formed partnerships with a variety of renowned international organisations.
About Vostok project
Vostok is a universal technological solution for scalable digital infrastructure developed by Waves Platform in 2018. It is comprised of two constituent elements: a fundamental technological innovation (the Vostok digital platform) and a facilitator of its maintenance, development and optimisation (the Vostok system integrator). The main purpose of the project is to form the basis of the digital infrastructure for certification, registration and data tracking, and to make new technologies easy-to- use in business and public administration.
About Dolfin
Dolfin is an independent and agile wealth management platform that provides custody, brokerage and asset management to private clients, financial advisors and institutional investors. Dolfin opens investment accounts promptly, safeguards assets, provides access to capital markets worldwide and offers sophisticated investment expertise. Founded as a London-based wealth boutique in 2013, the company now offers diversified financial solutions, an international presence, and a bespoke technology. Today, Dolfin looks after more than $3 billion of client assets and handles around $650 million of brokerage flow every month. Headquartered in London, with offices in Malta and Amsterdam, the company is regulated by the UK's Financial Conduct Authority and the Malta Financial Services Authority. In January 2019 Dolfin has acquired business of UK subsidiary of Swiss-based Falcon Private Bank.
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