• BURN MEDIA
    • Memeburn
      Tech-savvy insight and analysis
    • Gearburn
      Incisive reviews for the gadget obsessed
    • Motorburn
      Because cars are gadgets
    • Jobsburn
      Digital industry jobs for the anti 9 to 5!
prosperiprop

Fintech Prosperiprop nets over $200 000 in ICO to develop property software

South African fintech startup Prosperiprop has been able to raise “just over $200 000” through an initial coin offering (ICO) which closed yesterday, the startup’s founder Llew Morkel said today.

Prosperiprop launched the ICO earlier this year to raise funds from investors to develop software that will help financial institutions to offer property investment products via the Blockchain.

Read more: SA’s Prosperiprop responds to poorly performing ICO, adding PROPX NanoChain

Responding in an email to Ventureburn, Morkel said the company was able to sell over 600 000 PROPX tokens through the ICO.

The ICO, he said, had helped raise “more than enough” money to fund the development of the project. “The project is in very good shape and going ahead. The tokens have been distributed to token holders, and listed on IDEX exchange,” he added.

Prosperiprop founder Llew Morkel says the ICO raised more than enough money to fund the development of the project

He said the startup will be listing on other exchanges too, but that it needed to wait for the last ICO to close before other exchanges would consider listing the startup’s token.

The $200 000 Prosperiprop was able to raise comes in stark contrast to the mere $36 000 another ICO which also closed yesterday and was run by Ekasi-bucks was able to raise.

Read more: SA’s Ekasi-bucks ICO falls short of R50m target, nets just R500 000