DGAP-News: Advanced Blockchain AG: Investment Alluo Successfully Closes Funding Round at US$50 Million Valuation Basis | news

DGAP-News: Advanced Blockchain AG / Keyword(s): Cryptocurrency / Blockchain/Expansion

Advanced Blockchain AG: Alluo Holding Successfully Closes Funding Round on US$50 Million Valuation Basis

06.05.2022 / 09:04
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Advanced Blockchain AG (Scale Frankfurt, primary market Düsseldorf, XETRA: ISIN DE000A0M93V6) Investment and Incubation – Alluo, concludes token auction on a valuation basis of US$50 million. Advanced Blockchain – through a subsidiary – received 10 million ALLUO tokens for early-stage investment and incubation. This corresponds to 5% of the total ALLUO token supply and is therefore worth an approximate value of 2.5 million US dollars.

“Alluo has the potential to make decentralized financial services accessible to everyone. Alluo’s innovative cross-chain technology and the management team’s past achievements drive Advanced Blockchain to continue supporting Alluo’s growth,” said Chief Strategy Officer Robin David.

As part of the incubation, Advanced Blockchain successfully accompanied the Alluo project in the preparation and implementation of its funding round. Additionally, individual growth resources such as access to industry networks, project management and business development have been made available.

Advanced Blockchain has already invested in a project by Alluo co-founder Rémi Tuyaerts and supported it until a successful release in 2021.

“Advanced Blockchain has been instrumental in the success of our protocol. I am personally delighted to be working on a project with you again as a partner and investor. Our IDO marks a significant milestone for us. Thanks to the continued support of Advanced Blockchain, we are on our way to making DeFi accessible to everyone,” said Rémi Tuyaerts, co-founder of Alluo and successful serial founder.

About Alluo:
Alluo is working to realize the first decentralized neo-bank with the goal of making DeFi accessible to everyone. Alluo will allow users to control their finances (crypto) and make investments with a simple mobile application. Alluo also includes a cross-blockchain protocol for revenue optimization and liquidity management.

About Advanced Blockchain AG:
Advanced Blockchain AG is a company builder and investor in the blockchain industry and has an extensive team of analysts, developers, programmers, economists and mathematicians dedicated to developing the future of blockchain. Web 3.0. Group-wide, the team consists of more than 200 employees worldwide, spanning various disciplines to innovate across diverse industry ecosystems.

Further information about Advanced Blockchain AG and its various projects and participations can be found at: https://www.advancedblockchain.com/.

05/06/2022 Publication of a Corporate News/Financial News, transmitted by the DGAP – a service of EQS Group AG.
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