Auto1 Fintech aims to raise four million euros with security

A blockchain-based security token offering - this is the new security from Auto1 Fintech. It is aimed at professional investors with a minimum investment of 200,000 euros.

Auto1 Fintech wants to raise four million euros with its new security, which the company is making available to professional investors. The so-called Security Token Offering (STO) can be acquired from 200,000 euros. "With the Security Token Offering, we are offering investors the opportunity to participate in the upcoming growth of our fintech," says Managing Director Taimur Andre Rashid. According to Auto1 Fintech, the blockchain-based STO approach is accompanied by a high level of security for investors and low fees.

The fintech was originally founded by the listed used car dealer Auto1. Following a dispute between the shareholders, it became independent in 2020. Auto1 Fintech temporarily finances cars from dealers until they are sold to customers. Last year, the fintech gained Solarisbank as a partner.

The digital bond is being implemented via fintech Agora Innovation's Ive.one platform, with Frankfurt-based Renell Bank handling sales. "We are delighted to be working with the German start-up Auto1-FT, an innovation pioneer in the car trading industry, to provide the digital infrastructure for the issuance of their first digital security in car trading," says CEO Phong Dao of Agora Innovation.