Lykke Raises CHF2M

lykkeLykke, a Zurich, Switzerland-basede fintech company building a global blockchain-powered marketplace, recently completed a three-week public offering of a deliverable 1-year forward equity contract.

The company – which had raised over CHF1.16m in its initial coin crowdsale in September 2016 – raised CHF2m from more than 340 new investors.

The company’s tokens, traded under the symbol LKK, are available on the Lykke platform issued as “colored coins” on the bitcoin blockchain. The new token is a special kind of forward contract that is bought and sold on the Lykke exchange. Called LKK1Y, it entitles the owner to convert to the Lykke equity coins after a waiting period of one year. Currently, the price of the public LKK tokens is trading around 0.047 CHF. The LKK1Y “forward coin” is offered at a fixed price of 0.04 CHF – roughly a 15% percent discount for buying today and holding for at least one year. After a three-week settlement period, these forward contracts will be tradable on the Lykke platform.

Led by Richard Olsen, CEO, provides a blockchain powered trade FX and digital asset platform featuring Lykke Wallet iOS and Android apps which enable users to buy and sell digital currencies and assets on the Lykke Exchange.



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