The first cryptocurrency-based invoicing platform focused on providing liquidity pools for small and medium enterprises (SMEs), Hive Project, has announced the successful completion of its token sale, raising US$8.95 million (BTC 2087) from 2234 global supporters.
The Hive Project tackles barriers to liquidity faced by SMEs by providing an alternative source of liquidity to that offered by traditional financial institutions. While European Commission reports that SMEs represent over 99 per cent of businesses in the EU, SMEs in Europe and worldwide struggle to successfully tap into the US$3 trillion invoice finance industry to fund operations and growth. Hive provides new liquidity to SMEs, enabling platform participants to purchase micro invoices from trusted companies, turning invoices into tradeable assets.
