Lykke Corp Raises Extra CHF2m in New Public Offering of Equity

Lykke, a Swiss fintech startup building a global Blockchain -powered marketplace, has completed a three-week public offering of a deliverable 1-year forward equity contract. The offer, which was oversubscribed, raised 2 million CHF for the company and added more than 340 new investors.

“This is a huge validation for our project, our people, and our company,” said Richard Olsen, CEO of Lykke. “I’m thrilled that so many people are supporting us. We are now able to continue with our various license applications and improving our ecosystem.” Lykke is currently working on a number of new features and products to add to its Trading Platform .

In September of 2016, Lykke raised over 1.16 million CHF in its initial coin crowdsale. The tokens, traded under the symbol LKK, are available on the Lykke platform issued as 'colored coins' on the bitcoin blockchain.

The new token is a special kind of forward contract that is bought and sold on the Lykke exchange. Called LKK1Y, it entitles the owner to convert to the Lykke equity coins after a waiting period of one year.

Currently, the price of the public LKK tokens is trading around 0.047 CHF. The LKK1Y 'forward coin' is offered at a fixed price of 0.04 CHF - roughly a 15% percent discount for buying today and holding for at least one year. After a three-week settlement period, these forward contracts will be tradable on the Lykke platform.