A Securities and Exchange Commission (SEC)-regulated crowdfunding intermediary, Obelix, has vowed to continue to empower Small and Medium Enterprises (SMEs) as it marks 100 days since it commenced operations in the country.
The company in a statement said it recognises the growing potential of crowdfunding as a transparent and simple financial solution that can deliver substantial benefits to the local economy, adding that it has operated a funding portal, and monitors, that enabled three SMEs to raise N100 million from its retail investor community.
The company said during this time that the portal has consistently paid interest to investors every Friday in keeping with its proposition of weekly coupon payments. In addition, it is noteworthy that the 30-day and 45-day notes hosted on the portal have been fully redeemed.
“While returns on traditional investments are typically received monthly, quarterly, and sometimes yearly, Monitor has introduced weekly interest payments.
“The increased frequency of payments gives investors greater control over their cash flow.
“Obelix is proud to announce zero defaults by the three SMEs that raised funds on the portal. This attests to the advantage of investing through regulated crowdfunding portals. Businesses fundraising on Monieworx must go through a thorough vetting process that ensures only the most promising ventures with established and viable business models can secure funding from the growing community of investors on the platform.
“The firm, recently introduced an improved version of the Monieworx web and mobile apps, allowing investors to conveniently view their investment portfolio through a quick-access dashboard that consolidates their account balance, token balance, and income in a single view.
“With this latest upgrade, investors can effortlessly participate in crowdfunding campaigns and manage their investment portfolio more efficiently from the device of their choice.
“This notable achievement highlights Monieworx’s unwavering commitment to providing user-friendly solutions that adapt to the changing requirements of its users,” it stated.
