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RegTech Heliocor raises $2.5m in tokenised preference shares

Owen Hall, CEO, Crunchbase

London based RegTech Heliocor has raised 2.5 million from High Net Worth investors in scale-up funding using an investment strategy which, according to the company, is a novel funding technique used for the first time in the UK.

The investment process includes investors participating in 20% of Heliocor’s future profits after tax and their investments being represented as a digital token, using blockchain technology, rather than just a paper certificate, potentially providing significant liquidity should that digital token be listed.

According to the fintech, the funds raised will drive the enhancement of core products built by Heliocor’s Barcelona Technology Development Centre, launch and build the Dokstor app as a consumer brand and accelerate international sales of Robolitics, the high-speed data analytics engine.

Owen Hall, CEO of Heliocor, commented, “We have decided to address a big and important global problem: tackling digital identity fraud and restoring trust in the system. It’s a big challenge, but one that Heliocor has the experience, the products and team to solve. We thank our investors for expressing their confidence in our vision and embracing blockchain technology as the conduit for funding to support our ambitious growth plans.”

The company intends to utilize the funding to establish new sales offices in Singapore, Hong Kong and India in 2019.

Heliocor has recently partnered with platforms such as CBX in a bid to enhance investor engagement in cryptocurrencies and with LAN2LAN Limited based in the United Kingdom for professional services implementation of their AML/KYC offerings.

Heliocor is a regulatory technology company helping financial institutions manage their compliance effectively. Its technology, using AI, neural networks and machine learning, is working in Tier 1, 2 and 3 financial institutions today.

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