CEDEX Raises Substantial Funds Ahead Of Its Public Pre-Sale Stage || financemagnates.com Finance Magnates has been informed by a source familiar with the matter that the Cedex.com ICO has been able to raise approximately $20 million while still in the private sale stage. It has yet to reach its public pre-sale stage.
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Finance Magnates reached out to sources from both Cedex and Techfinancials, which granted Cedex a $400,000 loan last year, in an attempt to gauge the status of the project, and the alleged $20 million in raised funds in particular.
TechFinancials declined to provide comment with regard to the amount of funds raised at this point.
Ronen Priwer, founder of Cedex.com, offered his remarks: “We raised a very significant amount to this point. The early sale to private entities is progressing well and approaching our target, while the stage of public and substantial sale remains ahead of us, as we attempt to reach our overall goal.”
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The inception of Cedex was initially publicized in October of last year, when financial technology provider TechFinancials invested in it to help it develop the necessary technology to achieve its goals.
In return for the interest-free loan, TechFinancials received the option to purchase up to 90% of a newly created holding company called CEDEX HoldCo. TechFinancials retains the decision in its hands, and has been granted a total of 3 years from the date at which the loan was issued to exercise its option. (c)financemagnates.com
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