Place/Date: Singapore - October 19th, 2017 at 10:52 am UTC · 3 min read
Contact: Vladimir Grinevsky, Source: MicroMoney
MicroMoney Intl, the headliner of the social movement for financial inclusion of “the unbanked” around the globe, has attracted $5 millions during its AMM token pre-distribution, with just hours remaining before the distribution campaign start on MicroMoney.io, the company announced today.
In total, MicroMoney reports $5,000,000 of contributions during the initial phase. The pre-distribution campaign had a minimum swap threshold valued at $10,000 and a soft cap of swaps valued at $2 million.
“Now we are aiming for the soft target of $15 million in swaps and a $30 million hard cap during our token distribution. The activity of investors has exceeded our expectations, which is built upon reliance on MicroMoney’s social mission – to help eliminate poverty through the blockchain technology,” said Anton Dzyatkovsky, MicroMoney co-founder. “Millions of the undiscovered unbanked population in Southeast Asia and around the world are hoping to get a chance – maybe the only chance – through our transparent social and green microfinance program.”
MicroMoney’s goal is to change the “catch-22” reality for the unbanked, when billions of people cannot receive loans without having a bank account, credit history or financial records. MicroMoney is a thriving business in Myanmar, Cambodia, Thailand, Indonesia, and Sri Lanka totaling 100,000 registered users and 40,000 loans so far this year. Dubbed as the first Blockchain Credit Bureau, it creates credit profiles using loan applicants’ mobile phone data and proprietary blockchain-based Decentralised A.I. Neural Network Scoring System. Once approved, loans go to borrowers’ e-wallet for disbursement.
Valued at $1.85 million, MicroMoney provides social lending services with no collateral or paper-based documention. MicroMoney plans to use attracted funds to expand to Vietnam, Malaysia, Singapore and Nigeria and include over a million of previously unbanked customers into the global financial system.
Founded in 2015, MicroMoney International (MicroMoney.io) is a global fintech company offering financial services for the unbanked individuals in the emerging markets and access to the unbanked audience for banks, trade, and financial organizations. MicroMoney is a fast-growing company valued at $1.85 million, with over 85 employees in six locations around the globe.
MicroMoney makes lending decisions using proprietary AI algorithms and neural networks-based mobile scoring system. MicroMoney’s lending process doesn’t require any collateral or paper-based documentation. MicroMoney collects customers’ opt-in mobile phone data to establish potential borrowers’ credit score. MicroMoney uses the score to generate credit profiles, stored with MicroMoney Blockchain Credit Bureau, which in turn shares this data with financial institutions worldwide. For more information please visit: https://MicroMoney.io/