i-Deal Corp has seen a surge of new users following the opening of its i-Dx platform to private companies and initial coin offerings or ICOs.
Established as a way for listed companies and investors to communicate without the need for intermediaries, the recent direction of the platform has been a pleasant surprise, according to founder Luca Tenuta.
Even intermediaries – such as investment banks or corporate brokers - have realised the appeal of i-Dx and have started to use it as an additional way of raising money for their clients.
Tenuta says he always appreciated the benefit of private/public companies seeking funds by remaining anonymous until investors approach them directly to request more information.
He didn’t foresee the intermediary appeal, though now he gets why broking firms, private clients firms, nomads, investment banks and so on would like it.
As examples of i-Dx’s growing reach, he cites a Chinese investment adviser that is testing the platform for some of its clients as a way to raise money in Europe.
“So, basically this particular intermediary is registering on i-DealCorp’s sell side and with the blessing of the client is putting out anonymous postings related to the client’s business on the i-Dx dashboard to raise money or find partnerships for them.
“A good diversification to enlarge the network of the adviser and increase the chances of completing the capital raise faster and with a wider international investors’ community.
“Clients still get the money, while the intermediary gets a fee and enlarges its network.”
Tenuta admits this is an interesting turnaround from the original intentions, but activity has surged by 50% since January’s move to widen the reach of the platform and i-Dx’s participants now number more than 1,600 investors and companies and includes P2P Lending funds.
Listed and private companies, cash shells and start-ups have successfully started to raise money and increase awareness of their operations and targets, while businesses undertaking ICOs or token sales are also now flocking to i-Dx.
“All we provide is the platform. We don’t transact, we don’t own any content and don’t get involved once the sell side and the buy side are in communication.”
So, if different types of groups use it and everyone is happy, why interfere.
i-DealCorp was born as a communication platform to fill a gap between investors and companies, so for it to be used in other ways is a natural development.
“We are a communication company not an investment business, not crowdfunding, not involved in financial promotion or raising money.
“We just enhance the voice of buy (investors) side and the sell (companies/advisory firms) side.
“The platform can empower both sides. If people want to spin it in a different way and generate more avenues to communicate and do business, that’s fine. We don’t get involved.”
Use of the platform is free
Tenuta says i-Deal Corp is happy for now to bear the costs of the KYC certification process for the sell side – upon registration, a company will need to receive approval by i-Deal Corp and be validated before using the features of the platform.
Prospective investors need to be verified by the company, where i-DX assists by allowing it to communicate with the investors while remaining anonymous through the use of DealBox (i-Deal Corp’s peer-to-peer encrypted communication system).
A good example of a company benefiting from i-Dx is Parkify, a Spanish start-up that allows parking space owners to rent them out, which is using the platform to find investors for development capital.
Parkfy a good example
“Parkfy is a beautiful concept and scalable business model and with i-Dx, we strongly believe that the company will find the development capital they require as well possible partners/investors willing to expand Parkfy in other countries.
“It might also a good target for a reverse takeover,” says Tenuta.
But i-Dx is not just for businesses wanting money, increasing their visibility or looking to team up with foreign companies and investors.
Recently a ‘major oil company’ started discussions over using the platform to scour for producing oil assets.
Tenuta can’t say who it is yet, but once the deal is completed and the company confirmed, he expects oil and gas companies with production or possible production assets to be posting on i-Dx’s placing board and news board like a ‘corporate Gumtree’.
The board of i-Deal Corp is also in advanced conversations with law firms with an international footprint.
“Law firms today are also assisting their clients with introductions to possible partners (already clients of the firm), functioning as a sort of M&A advisory firm”.
The platform will be another tool for them to search for potential clients or targets for their existing clients.
Last but not least, i-Dx is in discussions with a Gibraltar-based cryptocurrency community to allow ICOs to market their offering to our growing investors’ community.