iSTOX Rebrands as ADDX Following a US$50 Million Fundraise

iSTOX Rebrands as ADDX Following a US$50 Million Fundraise

by May 20, 2021
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Private capital platform iSTOX announced that it is rebranding itself as ADDX as it enters a phase of fast-paced growth following a Series A funding round that raised US$50 million in January from Japanese state-backed investors.

Accompanying the fresh brand name is a newly-launched ADDX mobile app, now available on both Apple and Android devices, to enable users to invest in the private markets on the go as well as on the ADDX desktop website.

Existing investors can log on to the new ADDX platform with the same username and password to view their current investment holdings or to trade.

The company expects to grow to about 100 employees by the end of the year, up from 70 at the end of 2020 by expanding its product, tech and growth teams.



Additionally, ADDX said that it will be facilitating more issuance deals, at least 20 this year, which is more than double of the deals completed in 2020.

Among these issuance deals are new product lines, including private equity such as pre-IPO unicorns, structured products, products that provide exposure to cryptocurrencies, as well as commercial papers.

The new investment opportunities will accompany product lines rolled out in 2020, such as hedge funds, private REITs and wholesale bonds, forming a more complete range of private market offerings.

Founded in 2017, ADDX is fully regulated by the MAS as a platform for the issuance, custody and secondary trading of digital securities, also known as security tokens.

Accredited investors on the ADDX platform come from 27 countries, spanning Asia, Europe, the Americas excluding the US, Australia and New Zealand.

Oi Yee Choo, Chief Commercial Officer of ADDX

Oi Yee Choo

Oi Yee Choo, Chief Commercial Officer of ADDX, said,

“The rebranding to ADDX marks an important milestone in the company’s journey. The new mobile app, product lines and issuances planned for 2021 reflect a new ambition and new pace of expansion.

 

We will become the single platform accredited investors go to for all their private market investing needs. In the longer term, we hope to serve retail investors as well.”

 

Featured image credit: Edited from Unsplash

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