Poland’s InPay Lets Crowdfunders Buy Equity With Bitcoin

Poland-based bitcoin payment solutions provider InPay S. A. has launched an equity crowdfunding campaign that makes it possible to buy company stock with bitcoin.
The public offering claims to have secured the approval of Poland’s Financial Supervision Authority (KNF), the country’s equivalent of the US Securities and Exchange Commission (SEC), which makes it a unique project in the Polish digital currency industry, according to company representatives.
The initiative was launched on Poland-based equity crowdfunding site Beesfund.com, where potential investors can acquire InPay stock with bitcoin, becoming shareholders in the company .
Paper stocks
In total, InPay is aiming to raise the equivalent of 200,000 zloty (around $60,000) from the public offering to finance its further development and expansion to other markets.
At press time, the firm had sold just over a quarter of the 5% of its stock made available in the scheme, priced at 40 zloty per share, and which has been purchased by over 100 investors so far. The offering is scheduled to be completed by November 16th.
InPay said in a statement that, unlike the reward-based crowdfunding model popularized by sites such as Kickstarter or RocketHub, equity crowdfunding enables potential investors interested in innovative business models to acquire stock in the firms.

This post was published at Coin Desk on October 27, 2014.