Cofound.it Token Pre-Sale Raises $14.8m, Sells Out Before Public Sale

Cofound.it, a distributed platform for startups planning crowdsales, has announced that its CFI tokens have completely sold out in a pre-sale held before its public crowdsale was due to start, negating the need for it.

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The pre-sale, which commenced on June 4, 2017, raised a total of 56,565 ETH, the equivalent of $14,859,059, and attracted 1,521 investors from across the globe. Within 3 hours of the pre-sale opening, 1,200 supporters had invested $5 million.

Cofound.it offered pre-sale access exclusively to its most engaged supporters via its innovative Priority Pass mechanism.

Cofound.it CEO and co-founder Jan Isakovic said: “Cofound.it is proud to have made history today as the first crowdsale to completely sell out before its public token sale begins. This momentous achievement is testament to our revolutionary Priority Pass mechanism which rewards highly-engaged company supporters. We believe Priority Pass represents the future for startups planning crowdsales.”

“As Cofound.it moves into the next phase of developing its distributed venture capital platform that connects exceptional startups with world-leading experts and investors, we would like to humbly thank our supporters and investors for helping us close out our pre-sale in such grand fashion. Together, we have set a new benchmark and set of best practices for startups to launch high-volume crowdsales. This strong community support shows that the community shares our vision of a distributed Silicon Valley and our belief that the blockchain space must build it,” he added.

CFI tokens will be issued to investors within 7 days of Cofound.it auditing the sale. CFI tokens are expected to trade on major exchanges, to be announced in the coming weeks.