Australia’s Nauticus Projects a $25 Million Rise in Its Equity
Melbourne based fintech company Nauticus Blockchain is targeting an equity raise of $25 million to deliver on low-cost and geography agnostic financial transactions. The company has gathered a Social Media community of 50,000 since its launch in 2018 which is guiding its product development. Officially, trading began in the fourth quarter of 2018. The company currently offers 17 currencies along with AUD with more being added regularly.
The raising of these funds is expected to usher in 2.9 million users by the end of 2022 valuing the company to roughly around $74.2 million.
Cash inflow will also allow NauticusBlockchain to –
- Support extensive cross-platform marketing spend
- Acquire cross jurisdiction banking and financial licenses
- Internationally expand its team
Bryan Ng, the head of First Accountants, an accounting firm founded the company when he saw his overseas staff struggle with high-fees while transferring money to their families. Till date, the company has achieved 280,000 accounts in 84 countries making it the top contender to become an Australian firm with a global digital currency exchange focus.
“We urge people who share our vision of ethical, low cost and borderless finance to join us on this journey,” CEO Bryan Ng said.
“Imagine what a difference it would make in a developing country if 100% of the money arrived in the local economy, rather than 90-95% after the wire transfer companies have taken their cut,” he asked.
On a primary basis, the blockchain start-up recruits from –
- National Australia Bank (AUS)
- ANZ (AUS)
- Goldman Sachs (UK)
- Bank of Melbourne (AUS)
- Accenture (USA)
- News Corp (AUS)
- Telstra (AUS)
The company’s two core values are compliance and security — these two becoming very critical as the company’s business is centered around finance, and expanding into FOREX, securities, and international remittances. Regulated by AUSTRAC and licensed by AFSL, it can officially tokenize assets and shares.
Moreso, the company has recently submitted a review request to Google in order to launch its mobile application on the latter’s play store.