The blockchain-backed technology firm, which has raised $7.2 million to date, turns everyday users, employees, customers, or partners into investors in growing startups with a click of a button
NEW YORK--(BUSINESS WIRE)--Fairmint, the enterprise technology company enabling community ownership for fast growing startups, today announced the launch of its cutting edge, always-on equity tokenization platform. Fairmint allows founders to launch its decentralized portal directly on their websites, allowing contributors to receive tokenized equity in exchange for time or money they invest. Using its own technology on its own website, the company has raised $7.2M to date from more than 300 supporters, including early adopters, partners, customers, angel investors and VCs such as Tim Draper, Boost VC, A Capital and Fabric Ventures.
“Traditionally, early-stage companies relied on established venture capitalists for fundraising, but this model excludes the community of early supporters and believers that make a huge impact on a company’s success,” said Fairmint co-founder and co-CEO Joris Delanoue. “At Fairmint, we’re creating a future where everyone can take part in the financial upside of their favorite startups' growth.”
“When the next Uber or Airbnb goes public, the drivers, hosts and early adopters that played an outsized role in the success of these companies can get compensated alongside the traditional VCs,” added Fairmint co-founder and co-CEO Thibauld Favre.
Fairmint’s technology leverages blockchain and smart contracts to make equity programmable. The solution serves as the Web3 layer of the modern startup stack, empowering participation in the ownership economy. Similar to a computer programming language’s role in Web2.0, blockchain and smart contracts are used under the hood to power Fairmint’s full stack solution, but the user-friendly interface makes this cutting edge technology easy to use for the end consumer.
Fairmint is part of the growing DeFi – or decentralized finance – movement, which aims to use blockchain to perform key financial functions without relying on expensive intermediaries like brokerages, stock exchanges, or banks. Technologists believe that DeFi has the potential to democratize access to important financial instruments and infrastructure.
“Silicon Valley has long been a place for visionary entrepreneurs to build innovative companies that end up changing the world,” said Fairmint investor and legendary venture capitalist Tim Draper. “But too often those entrepreneurs lacked the tools to share the financial upside with the communities that helped them change the world. Fairmint fixes that, giving founders the tools to grant equity to their community in exchange for their time or money."
With plans starting at $199/mo, Fairmint brings a low cost subscription model to an industry that has traditionally relied on short-term agreements and expensive fees based on percentages of funds raised. Through Fairmint’s closed beta program, $17.5M in time and money has been invested in growing startups. With a complete set of Web3 legal templates, including the innovative Rolling SAFE, the company plans to onboard hundreds of companies over the next several quarters.
For more information on Fairmint, please visit www.fairmint.com.
About Fairmint
Fairmint makes community ownership easy. Companies launch Fairmint's decentralized portal on their website, allowing contributors to receive tokenized equity in exchange for time or money they invest. Built by founders for founders, our technology leverages blockchain and smart contracts to make equity programmable. Fairmint is the Web3 layer of the modern startup stack, empowering participation in the ownership economy.
Contacts
Caroline Quinn
fairmint@astrskpr.com