Gett Taxi Collaborates With Da Vinci Capital To Allow Russian Users To Buy Tokenised Shares

By Rishma Banerjee

The use of blockchain and cryptocurrency-related services have seen an exponential rise over the years. According to reports that were published by Russian media 1Prime, it has been revealed that retail investors in Russia will now be able to buy tokenised shares of Israeli on-demand mobility company, Gett Taxi, via the independent investment manager, Da Vinci Capital.

Da Vinci Capital is in the hopes to tokenise a portion of its 8% stake in Gett and conduct a pre-sale even before the company announced their plans for an IPO next year. They noted,

“All issued GTT tokens will be provided with shares of the DVC Drive Tech Fund SP under Da Vinci Capital and tied to Gett shares.”

The sales of these shares will be done as part of a Security Token Offering (STO) and can be acquired through the OKONTO platform. The tokens will be available to both professional and private investors, at a rate of 415 euros as a minimum investment.

Oleg Zhelezko, the managing partner of Da Vinci Capital,  said,

“Participation conditions are the same for all investors. Each token allows investors to receive returns on Gett shares and is acquired at the price of the last round of financing. As a result, each token is provided with 160 Gett shares,”

It can be noted both the retail and institutional investors will now be able to invest in the company before its plans to officially conduct a public offering in the first quarter of 2020.

The reports indicate that the funds realised from STO, as well as the upcoming IPO for Gett Taxi, will allow the ride-hailing company to extend its offering to other countries. Gett Taxi which was founded in 2010, is currently functional for users in the USA, UK, Israel, and Russia.