Auto1 Fintech aims to raise four million euros with security

A blockchain-based security token offering - that's 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. Starting at 200,000 euros, the so-called Security Token Offering (STO) can be purchased. "With the Security Token Offering, we offer investors the opportunity to participate in the upcoming growth of our fintech," says Managing Director Taimur Andre Rashid. With the blockchain-based STO approach came high security for investors and low fees, according to Auto1 Fintech.

The fintech was originally founded by listed used car dealer Auto1. It went independent in 2020 after a dispute between shareholders. Auto1 Fintech finances cars from dealers between 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 excited to partner with German startup Auto1-FT, an innovation pioneer in the auto trading industry, to provide the digital infrastructure for the issuance of their first digital security in auto trading," said CEO Phong Dao of Agora Innovation.