Bora Finance, an African Fintech Start-up, will Bring Decentralized, Blockchain-based Financial Services to 2+ Billion Underbanked Adults Worldwide
A new African start-up will deliver blockchain banking to the 2.3 billion underbanked adults in the world.
July 30, 2021 —
Bora Finance is developing an online banking environment that will include a saving and investment platform, a loan and collateralization segment, insurance, and payment/POS platform. The Bora Finance solution will give access to secure and profitable banking services to billions right through their mobile devices. More information is available at https://borafinance.io/.
“The traditional financial system has left billions of people behind,” said Fanna Park, Founder of Bora Finance. “Bora Finance is building a better system for those that need it most. As the old saying goes, you need to have money to make money. You also need a reliable and safe banking system to save money, invest it, and get access to loans. Bora Finance will provide that with the security of blockchain and state-of-the-art mobile security technology.”
Bora Finance services will include:
– Contract Insurance
– Micro Loans
– Point of Sale System
– Small- and Medium-sized Business Loans
– Tokenizing Real World Assets
– Peer-to-Peer Payments
– NFT Investment Vehicle
– Smart Identification
– Payment Network
– Much more
The simple goal of Bora Finance is to provide a complete banking and finance suite to those who have little or no access to banking now. The power of banking, being able to keep and grow one’s financial assets safely and effectively, is the hallmark of cultural and financial development. Bora will bring these services to Africa, then South America and Southeast Asia.
Bora will build its suite of financial services on the Cardano blockchain platform to keep fees low and provide the security of blockchain recording.
“We must do better for the underbanked,” Park said. “The traditional financial system was not designed for the developing world. We must create a better system; Bora Finance is that system.
“The irony is that those 2.3 billion adults represent the single largest market for growth of financial services, but American, European, and Asian finance companies are too rigid to open their doors to these people. Bora Finance is being built to tap into that market to the benefit of everyone, the customers, the investors, and the company.”
Bora Finance has successfully raised $56,000 during a presale round. Bora Finance is excited to announce the IDO Seed round will be open to the public. Details and registration for the IDO can be found at their website https://borafinance.io.
About Bora Finance
Bora Finance is a mobile banking environment that will offer all the traditional banking services to the world 2.3 billion underbanked. Using the power of blockchain and by creating a crypto currency token (BORA), the company will be able to fund itself, offer interest and incentives, and build an environment where banking is accessible to the world’s poorest and least served by the current banking system. Bora Finance represents the marriage of modern technology with a service vision aimed at opening a new market and providing a vital service to billions.
Release ID: 89038778