American Fintech Genevieve enters the sub-Saharan African market

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The American fintech GENEVIÈVE has just deployed its activities in sub-Saharan Africa through a program of financing 150 TPE and African SMEs with high potential.

Indeed, it wants to capitalize on its access to financial markets through blockchain technology to remove the obstacles to financing the African private sector.

According to Fabien Dureuil, CEO of the Alternative Financing Platform, “The private sector is the heart of the economic development and human capital of the African continent. To give it a chance to succeed will accelerate the liberation of economic and human potential: it is our mission at GENEVIÈVE “.

In a public statement to this effect, fintech explains that the African private sector suffers from a financing gap between 385 and 455 billion dollars a year. This immense need is not addressed by the classic actors of the financial system, whose solutions are proving more and more inadequate in the face of the demand for agility of economic actors.

With a privileged access to a capital market valued at more than 700 billion, the American fintech proposes to circumvent the barriers through a technological solution: the blockchain.

Technology still “new” in Africa, admits Fabien Dureuil, the blockchain is none the less promising and opportunities. This technology of storage and transmission of information, transparent, secure and operating in a disintermediated and democratic way is like “a very large notebook, that everyone can read freely and freely, on which everyone can write, but that is impossible to erase and indestructible. ”

Positioned at the heart of this market, which has grown exponentially over the last thirty years to the point of exceeding certain multinationals, GENEVIÈVE has developed two strategic financing mechanisms:

GENEVIÈVE Exchange (GXE): This is a cryptobourse or digital exchange of SMEs. The investment firms are attached to the blockchain using the Ethereum currency following crowdsourcing campaigns, that is to say the identification of SMEs with high potential.

Then, risk tokens become exchangeable on the GENEVIÈVE platform; GENEVIÈVE VC (GXVC): This is a venture capital cryptocurrency investment fund that offers equity exposure to its owners.

About Geneviève

GENEVIÈVE is an alternative and innovative platform for financing TPEs, SMEs and African start-ups with high potential. Since its launch in 2014, GENEVIÈVE’s mission has been to contribute to the success of the private sector in emerging countries. With access to a capital of 700 billion offered by blockchain technology, GENEVIÈVE meets the financing needs of companies through two financing solutions: GENEVIÈVE Exchange (GXE), an SME cryptobourse and GENEVIÈVE VC (GXVC) , a venture capital cryptocurrency investment fund that offers equity exposure to its owners.

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