The Hague, Netherlands-based MobiFi, a next-gen Mobility-as-a-Service platform that aims to tackle urban challenges, announced that it has raised fresh capital of $2.8M (approx €2.36M) from an Initial Coin Offering (ICO).
An ICO or initial coin offering is a type of funding using cryptocurrencies. It is often a form of crowdfunding. However, a private ICO which does not seek public investment is also possible.
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Capital utilisation
The proceeds from this round will help to bootstrap the mobility platform to be built around two blockchains, Ethereum and Corda, to begin with.
Additionally, the funds will also help MobiFi to roll out product experiments in the Netherlands by testing two proofs of concepts on sustainable mobility by the year-end, and hire more employees in the coming months.