Moonlighting, a mobile, on-demand virtual marketplace for freelancers is partnering with Entoro Capital (Entoro), a global investment banking and financial services group to manage its Simple Agreement for Future Equity with Token Allocation (SAFE-T).
Moonlighting will be using Entoro’s digital private securities syndication platform called OfferBoard to raise up to $25 million from accredited investors under Regulation D and Regulation S of the Securities Act. The proceeds will be used to enhance Moonlighting’s freelance platform by incorporating new blockchain technology and supporting the company’s global expansion.
Entoro, in collaboration with leading blockchain advisory group New Alchemy will assist and advise Moonlighting through the token sale process. Moonlighting intends to issue a token that will comply with securities law and allow token holders to directly share in the success of the company.
[perfectpullquote align=”full” bordertop=”false” cite=”James C. Row, CFA, Managing Partner of Entoro” link=”” color=”” class=”” size=””]“Moonlighting is a revenue-generating 4-year-old company with real customers and a well suited business case for tokenizing their business. The management team and counsel are first rate, with the credibility and track record of building scalable platform businesses.”[/perfectpullquote]
Over the past 18 months, Moonlighting’s marketplace has attracted over 650,000 freelancers and small business entrepreneurs to its platform. With the goal to build a safer and more secure hiring platform, Moonlighting will transport their user data over to the blockchain, creating profiles that can be more trusted.
By decentralizing profiles, Moonlighting users will also be able to take their freelance profile with them for single sign-on registration to access other marketplaces and participate, saving valuable time and money.
[perfectpullquote align=”full” bordertop=”false” cite=”Jeff Tennery Founder and CEO of Moonlighting” link=”” color=”” class=”” size=””]“Moonlighting is committed to bringing real blockchain solutions to the gig economy. By adopting blockchain into our profile management system, we can provide hirers a more trusted avenue for recruitment as well as give our freelancers the freedom to control and manage their own data.”[/perfectpullquote]