Mudiwa Gavaza speaks to Edward Cotterell, founder and CEO of Reality Company
Funding small businesses through blockchain technology is the focus in this edition of Business Day Spotlight. Entrepreneurs in SA have long lamented the difficulty of raising capital to start a business. This is especially true for tech start-ups that are in the growth phase, looking to raise millions needed to fund expansion.Cotterell and his team are looking to change how this through blockchain — the digital ledger and technology that underpins cryptocurrencies such as bitcoin.
Reality describes itself as a global blockchain-based tech start-up founded by fintech entrepreneurs. Cotterell says the SA-founded company is “the world’s first digital decentralised blockchain-based stock exchange. This platform will enable small to medium-sized companies to list and tokenise their equity at a reduced cost, opening up a previously inaccessible path to raise capital from markets.”
In essence, the company is looking to become a stock exchange for small businesses. Such enterprises are normally too small for admission on a public exchange. The stock market is a huge source of funding for businesses. Reality managed to raise the total required investment of $1.8m in one day from 16 individuals and decided not to open for further investment, what would typically be a “B” or “C” round of investment. Topics of discussion include Reality Company’s business model; the rationale for starting the business; the problem being addressed; and performance since launch.
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