BARONESS Michelle Mone has hit back at claims that her cryptocurrency-backed peer-to-peer platform EQUI has failed to launch.
EQUI – co-founded by entrepreneur Baroness Mone (pictured) and her venture capitalist partner Doug Barrowman – launched an initial coin offering (ICO) in March to let retail investors acquire stakes in or lend to early-stage businesses using EQUItokens.
The ICO was expected to last for six weeks before being extended to 30 June and now reports have emerged that it failed to hit its target and that those who helped promote the campaign – known as bounty hunters – are unhappy with how much they have received in return.
However, a spokesperson for Baroness Mone told Peer2Peer Finance News that the ICO had just been put on hold due to EQUI being transformed from a UK enterprise into a global business.
“All of our EQUI investors are 100 per cent happy,” the spokesperson said.
“We offered a refund as we are changing our tokenomics but only 32 investors asked for a refund which they have now received.
“Our bounty contract was two per cent of the raise which is being paid out this week.”
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