DGAP-Adhoc: FinLab AG: * FinLab AG and Block.one Announce $100 million Joint Venture to Accelerate Development of EOS.IO Projects in Europe

2018. március 21., szerda, 10:00





DGAP-Ad-hoc: FinLab AG / Key word(s): Alliance/Funds


FinLab AG: * FinLab AG and Block.one Announce $100 million Joint Venture to Accelerate Development of EOS.IO Projects in Europe


21-March-2018 / 10:00 CET/CEST


Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.


The issuer is solely responsible for the content of this announcement.




Frankfurt am Main, 21 March, 2018 - Block.one, the developer behind the leading blockchain software EOS.IO, and FinLab AG (WKN121806 / ISIN DE0001218063 / ticker symbol: A7A.GR), one of the first and largest company builders and investors in Europe focused on the FinTech sector, today announced the signing of a letter of intent regarding the formation and capitalization of a new $100 million (EUR81 million) fund managed by FinLab, that will make strategic investments throughout Europe in projects that utilize the EOS.IO open-sourced blockchain software. FinLab will receive a market-standard management fee and carried interest participation.


"EOS.IO"s Delegated Proof of Stake (DPOS) approach has shown to vastly improve the speed and resiliency by which blockchain networks operate and scale," says Stefan Schuetze, member of the FinLab management board. "FinLab is excited to partner with the company behind this fundamental innovation and looks forward to fostering development of projects enabled by EOS.IO software."



"We are excited to work with FinLab, a leading European tech investor, to grow EOS VC"s global reach," said Brendan Blumer, CEO of Block.one. "We believe the EOS.IO open source software fundamentally enables new community driven business models, and we remain committed to investing in that future."




About EOS.IO

EOS.IO software introduces a blockchain architecture designed to enable horizontal scaling of decentralized applications (the "EOS.IO Software"). The software provides accounts, authentication, databases, asynchronous communication and the scheduling of applications across multiple CPU cores and/or clusters. For more information, please visit https://eos.io

 



About FinLab AG:

Stock market listed company FinLab AG (WKN 121806 / ISIN DE0001218063 / ticker symbol: A7A.GR) is one of the first and largest company builders and investors focused on the Financial Services Technologies ("FinTech") sector in Europe. FinLab focuses on developing German FinTech startups and providing venture capital for their financial needs, whereby in each case the aim is a long-term participation and ongoing support of the investment. FinLab also invests globally, as part of venture rounds, in FinTech companies, primarily in the USA and Asia.

 



Press contact:

FinLab AG

Stefan Schütze

investor-relations@finlab.de

www.finlab.de

Phone: +49 69 719 12 80 147











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Language: English
Company: FinLab AG

Grüneburgweg 18

60322 Frankfurt/Main

Germany
Phone: +49 (0)69 719 12 80 - 0
Fax: +49 (0)69 719 12 80 - 011
E-mail: investore-relations@finlab.de
Internet: www.finlab.de
ISIN: DE0001218063
WKN: 121806
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Stuttgart, Tradegate Exchange





 
End of Announcement DGAP News Service




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