KEEPP begins equity-token crowdfunding to grow self-storage business in Latvia
Following the announcement last year, Keepp – a share company registered in Latvia, is starting the equity crowdfunding campaign and as a result will be issuing a security token on the Ethereum blockchain. The security token offering (STO) represent the share ownership in the EU-based business Keepp (keepp.eu) with the rights to income in the form of dividend, estimated at 15% per annum. The fundraise is denominated in Euros and offers an ability for cryptocurrency owners to invest also in bitcoin or ether.
The self-storage business has seen an upsurge in demand for storage space, especially during the Covid-19 lockdowns. The Keepp company conducted a poll in February-March 2021 in Riga to confirm the market demand for storage services. The results indicate a severe lack of space for everyday items, like seasonal gear, children’s toys and appliances. These items are typically kept on balconies, staircases and communal basements, often leading to disagreements among tenants. Most citizens admitted they would gladly use a conveniently located, modern storage facility if such were available.
Keepp aims to scale market-proven network of short- and long-term self-service storage facilities. In the first phase, the project plans to develop across Riga, Latvia. In the next, Keepp targets Lithuania and Estonia, fully covering the Baltic States and later following with the expansion across Europe. This fundraise is related to the first phase of business development, offering an unprecedented ability for citizens to become share-token-holders in a growing business.
The security token offering is denominated in euros. Its issued token-shares are planned to be represented on the Ethereum blockchain. The fundraise is accepting euros (EUR), bitcoin (BTC), and ether (ETH) as investment currencies. Total funding sought is EUR 850,000. The offering is open to investments for individuals and corporate entities alike. Investors may purchase dividend-paying preferred shares of Keepp AS at EUR 2.50 per share and gain the right to dividend, estimated at 15% per annum. Depending on the investors’ demand, the project also considers to open the secondary market.
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