Sponsored Ad Feature is produced by an advertiser with the specific intent to promote a product and is not produced by the Morning Wire team.

For venture-minded investors who have yet to make any major forays into the tantalising yet potentially risky ICO world of blockchain and cryptocurrency, one equity investment opportunity live now on Crowdcube may prove to be a gateway. 

Introducing: the bank account based on blockchain

BABB (Bank Account Based Blockchain) is a UK-based startup. It is building an app based on a private proprietary blockchain, offering future-proofed, mobile-only banking services with slick biometric onboarding.

Targeting the excluded, the overcharged and the disenfranchised in the UK and around the world, BABB is planning to undercut the busy challenger bank market with an appealing customer proposition backed up by a business model which will be revenue-generating from year one.

BABB is in the process of applying for a banking license in the UK and is currently conducting a funding round in order to meet the minimum capital requirement set out by the Bank of England for financial organisations seeking bank status.

Retail investors can invest in the pitch on Crowdcube for an equity stake in BABB Group. The project is seeking £1.5 million investment for 2.91 per cent of the company, with attractive rewards on the table including a bonus paid in BABB’s native crypto-asset, BAX.

The raise is live now on Crowdcube, the FCA-regulated crowdfunding site which in the past has seen fintech startups Monzo and Revolut raise millions and grow their fanbase into the bargain. BABB is one of the first ever blockchain companies to offer equity, in a move which seeks to bridge the regulated financial world and the bold new blockchain landscape.

Progress so far

Having raised $18 million in a token sale earlier this year, BABB’s operations, development, legal and marketing costs are all fully covered and the company has the luxury of a long runway. Launch of the app is scheduled for Q4 2018, with a second release targeted for Q1 2019.

With a following of over 50,000 people living in over 100 different countries across the world, the BABB project has an eager customer base ready and waiting. BABB’s community have a real need for the benefits of blockchain-based services – including instantaneous transactions, low costs, advanced security and sophisticated data privacy controls – in a regulated environment.

Banking license within reach

BABB’s supporters are watching the company’s journey towards bank status with interest and enthusiasm. With an experienced team working on the application process, including ex-Lloyds and Aldermore executive Paul Johnson in the driving seat and former FCA decision-maker Lucy McClements on board as a regulatory adviser, BABB is confident of success.

The Crowdcube fundraise to meet the minimum capital requirement is the final piece of the jigsaw for BABB’s banking license application in the UK. With private investors lined up to contribute the remaining investment, the equity sale is a rare opportunity for retail investors to own shares in what promises to be the UK’s first blockchain-based bank.

Invest in BABB

As one of the first ever blockchain startups offering equity, owning shares in BABB is a rare opportunity to be part of the new wave of fintech disruptors. The BABB equity round is live now on Crowdcube and is over 50% funded, with more than 900 investors so far.

Visit the BABB page on Crowdcube to view the full pitch, download the business plan and invest in the company via credit or debit card.