PRESS RELEASE

PARKINGO RECEIVES BAFIN’S APPROVAL TO CONDUCT SECURITIES TOKEN OFFERING ON STOKR

13 Mar 2020

Luxembourg, 13 March, 2020

German Federal Financial Supervisory Authority, BaFin, has approved the first cross-border security token offering for an European SME, issued via the security token issuance platform STOKR, a Luxembourg-based investment platform directed to a new generation of investors.

German retail investors may now, along with investors from 21 European countries, participate in the offering of ParkinGO.

The German watchdog has already approved several security token offerings from German issuers. However, none of them have offered their investors a truly negotiable equity instrument. The negotiability element is crucial for the proper functioning of secondary markets. Negotiability provides certainty to the buyers in a secondary market, so that they have obtained all rights attached to the security tokens.

STOKR makes this possible by allowing issuers to maintain their investor register on-chain, on a decentralised network. The security token of ParkinGO, the GOTS, are as such issued, traded and settled all on the blockchain, unlocking the true potential of distributed ledger technology.

ParkinGO is a strong player in the mobility and airport parking sector, active in 9 European countries with approximately 2.7 million customers. ParkinGO offers both institutional investors (via a private offering) and retail investors (via a public offering) the possibility to invest in their company, through a Luxembourg-based special purpose vehicle, in return for a share of their revenues. The GOTS represent a unique hybrid-equity instrument where ParkinGO commits to share a percentage of their annual revenue with the investors. This instrument is a novelty in corporate financing and allows the investors, contrary to existing security token offerings which are mainly debt based, to grow with the success of the company. The GOTS are issued on the Ethereum permissionless blockchain using the STOKR Framework, an ERC-20 compatible smart contract framework, developed by STOKR.

“We are proud to have developed a true alternative for SMEs and start-ups to obtain financing through a financial instrument, which is attractive to investors who want to participate in their strong growth stories. BaFin’s approval is a major milestone for all SMEs & start-ups and shows that European capital market laws are already adapted to this new form of financing.”, Tobias Seidl, Product and Regulatory lead, STOKR.

“Security Tokens can enable a new way of financing for family companies like ParkinGO. The regulatory approval from BaFin boosts our confidence tremendously during this fundraising process.”, Davide Rovelli, CEO at ParkinGO.

ABOUT PARKINGO:

Founded in 1995, ParkinGO is a twenty year strong story of an Italian enterprise that seized the business opportunity of car parking next to a growing Milan Malpensa airport, with an increasing flow of travellers using low-cost and international flights. Since then, the business has thrived, raising the bar to satisfy the demand for streamlined parking and transfer at airports. Year on year, the company has extended its network of airport, port, and train station parking services across 90 locations in Italy and Europe. Today, they are the first in their sector to move onto the blockchain.

Learn more about the STO at https://stokr.io/parkingo

Learn more about the ParkinGO at https://www.parkingo.com/it/

ABOUT STOKR

STOKR is an investment marketplace providing turn-key solutions to companies to access capital markets based financing, as per the EU capital market laws. From technology support to payment gateways, and investment structuring support to investor wallet registration, STOKR enables the opportunities for both the issuers and investors to have a secure, transparent, and user-friendly investment experience. STOKR is led by a diverse team operating from Luxembourg and Germany. STOKR focuses on supporting projects which are committed to making a positive impact, as well as creating a community of educated investors who are empowered to make better investment decisions.

Learn more at stokr.io