FinTech Firm Spiking Raises $30M USD In Private Token Salebr>
FinTech firm Spiking has raised $30 million in its oversubscribed private token sale. Dr Charlie In, chairman of Sequoia Capital Hong Kong and Singapore-based financial consulting firm Raffles Capital, was the lead buyer in the private sale. The firm intends to hold a public token sale on November 22.
Based in Hong Kong, Spiking is a financial technology trading app that tracks stocks of reputable investors in the traditional markets. It tracks the sophisticated investors from 10 stock markets in eight countries and sends users real-time notifications whenever these investors transact and made public their filings. The app consolidates the latest disclosures published on these markets and sends them to mobile devices almost instantaneously.
The latest funding will be used to develop a platform that will allow users to find trades of cryptocurrency “whales” or holders of substantial crypto assets and follow their crypto trades. It will be built on a modern technology stack with fully audited security standards. The platform will utilize smart contracts to allow users to mirror the trading activity of any whale and control their own segregated trading accounts directly.
“We are humbled by the huge demand for Spiking’s tokens which resulted in the over-subscription,” says Dr Clemen Chiang, CEO of Spiking. “With this momentum, public buyers can look forward to the initial exchange offering on Kryptono Exchange next month, which is an industry leading crypto exchange.”
As part of his investment, In, who has more than 40 years of experience in chairmanship of major companies, will take on an advisory role in the company. He will provide governance, investment oversight and market access to Spiking.
“Spiking is well positioned to seize the untapped opportunities in the cryptocurrency market,” said In. “In particular, Spiking understands the big whales by tapping into financial technology for stocks and blockchain technology for cryptocurrencies. This is a valuable resource for price analytics.”
In August of this year, Spiking raised $1.63 million in a Pre-Series A round. Key investors in in the round include Julian Chesser, Managing Director (Financial Markets, Singapore) at IHS Markit, Carl Wang, General Manager of Eyougame, and Lisa Theng, Managing Partner of Colin Ng & Partners. The company is also backed by Quest Ventures, CRC Capital, Mars Blockchain, J Capital, and Jove Capital.