A Securities and Exchange Commission (SEC)regulated crowdfunding intermediary, Obelix, has vowed to continue to empower Small and Medium Enterprises (SMEs) as it marks 100 days since it commenced operations in the country.
The company in a statement said it recognises the growing potential of crowdfunding as a transparent and simple financial solution that can deliver substantial benefits to the local economy, adding that it has operated a funding portal, and monitors, that enabled three SMEs to raise N100 million from its retail investor community.
The company said during this time that the portal has consistently paid interest to investors every Friday in keeping with its proposition of weekly coupon payments.
In addition, it is noteworthy that the 30day and 45day notes hosted on the portal have been fully redeemed.
While returns on traditional investments are typically received monthly, quarterly, and sometimes yearly, Monitor has introduced weekly interest payments.
The increased frequency of payments gives investors greater control over their cash flow.
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