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    Liquid Intelligent Technologies Acquires Israeli Tech Company, Telrad

    Liquid Intelligent Technologies Acquires Israeli Tech Company, Telrad

    Flutterwave Defies Global Layoffs, Hire 200 more Staff

    Flutterwave Defies Global Layoffs, Hire 200 more Staff

    The Federal Government Will No Longer Tolerate the Importation of SIM Cards — Pantami

    The Nigeria Startup Bill Passes Third Reading at the House of Representatives

    The Nigeria Startup Bill Passes Third Reading at the House of Representatives

    ECWA Partners with Bitnob to Raise Charity

    ECWA Partners with Bitnob to Raise Charity

    Sudo Africa appoints Farida Kabir as Group Head of Growth

    Sudo Africa appoints Farida Kabir as Group Head of Growth

  • FEATURED
    How MTN Nigeria is Aiding National Evolution

    How MTN Nigeria is Aiding National Evolution

    Understanding nHub’s Build Back Better Strategy

    Understanding nHub’s Build Back Better Strategy

    Diversity Equity Inclusivity: Bringing More Disabled Persons into the Tech Ecosystem

    Diversity Equity Inclusivity: Bringing More Disabled Persons into the Tech Ecosystem

    Harnessing the Potentials of Social Media to Grow SMEs in Nigeria

    What the 5G Spectrum Launch and Starlink’s Expansion mean for Nigeria’s Digital Economy

    What the 5G Spectrum Launch and Starlink’s Expansion mean for Nigeria’s Digital Economy

    Against all odds, African female-led tech startups are raising funds

  • BLOCKCHAIN
    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    How Blockchain can Transform the Financial Ecosystem in Nigeria

    How Blockchain can Transform the Financial Ecosystem in Nigeria

  • FINANCE
    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Abeg Rebrands to Pocket, set to Pioneer Social Commerce in Nigeria

  • START UPS
    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    The Nigeria Startup Bill Passes Third Reading at the Senate

    Moove Raised $135 Million in H1 2022 to Scale its Vehicle Financing Business Globally

    GetEquity wants to Replicate its Nigerian Success in Kenya.

    GetEquity wants to Replicate its Nigerian Success in Kenya

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    How 10 African Startups Raised $218.4 Million in May 2022

    How 10 African Startups Raised $218.4 Million in May 2022

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CRESTHUB
  • NEWS
    Liquid Intelligent Technologies Acquires Israeli Tech Company, Telrad

    Liquid Intelligent Technologies Acquires Israeli Tech Company, Telrad

    Flutterwave Defies Global Layoffs, Hire 200 more Staff

    Flutterwave Defies Global Layoffs, Hire 200 more Staff

    The Federal Government Will No Longer Tolerate the Importation of SIM Cards — Pantami

    The Nigeria Startup Bill Passes Third Reading at the House of Representatives

    The Nigeria Startup Bill Passes Third Reading at the House of Representatives

    ECWA Partners with Bitnob to Raise Charity

    ECWA Partners with Bitnob to Raise Charity

    Sudo Africa appoints Farida Kabir as Group Head of Growth

    Sudo Africa appoints Farida Kabir as Group Head of Growth

  • FEATURED
    How MTN Nigeria is Aiding National Evolution

    How MTN Nigeria is Aiding National Evolution

    Understanding nHub’s Build Back Better Strategy

    Understanding nHub’s Build Back Better Strategy

    Diversity Equity Inclusivity: Bringing More Disabled Persons into the Tech Ecosystem

    Diversity Equity Inclusivity: Bringing More Disabled Persons into the Tech Ecosystem

    Harnessing the Potentials of Social Media to Grow SMEs in Nigeria

    What the 5G Spectrum Launch and Starlink’s Expansion mean for Nigeria’s Digital Economy

    What the 5G Spectrum Launch and Starlink’s Expansion mean for Nigeria’s Digital Economy

    Against all odds, African female-led tech startups are raising funds

  • BLOCKCHAIN
    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Cardano Accelerator Adaverse Invests in Afriguild’s Mission to Onboard Africans Into Web3

    Is Africa Ready to Operate a Digital Monetary Policy?

    Is Africa Ready to Operate a Digital Monetary Policy?

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    What Binance and TikTok Star, Khaby Lame’s Partnership mean for Crypto and Web3 Adoption

    PLA2SMART Set to Lead a New Frontier in Nigeria’s Tourism Economy

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    Bundle Launches Web App to Give Users More Accessibility to Crypto

    How Blockchain can Transform the Financial Ecosystem in Nigeria

    How Blockchain can Transform the Financial Ecosystem in Nigeria

  • FINANCE
    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    What could Flutterwave and Chipper Cash’s no-license in Kenya mean?

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    How Two Nigerian Fintech Executives Flouted Anti-money Laundering Policy in the U.S

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Eight Alternative Virtual Dollar Cards to Use in Nigeria

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Visa’s Partnership with Flocash will Provide Digital Solutions for African SMEs

    Abeg Rebrands to Pocket, set to Pioneer Social Commerce in Nigeria

  • START UPS
    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    Nigerian startup, CreditChek, raises $240,000 in pre-seed round to Drive Credit Infrastructure

    The Nigeria Startup Bill Passes Third Reading at the Senate

    Moove Raised $135 Million in H1 2022 to Scale its Vehicle Financing Business Globally

    GetEquity wants to Replicate its Nigerian Success in Kenya.

    GetEquity wants to Replicate its Nigerian Success in Kenya

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    Kenyan foodtech Startup, Kune Shuts Down Months after Raising $1 Million

    How 10 African Startups Raised $218.4 Million in May 2022

    How 10 African Startups Raised $218.4 Million in May 2022

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Home INNOVATION

How Elesaro is Leveraging Blockchain Technology for Robust Crowdfunding

by Shalom Oyero
June 18, 2021
in INNOVATION
Reading Time: 5 mins read
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No entrepreneur going into business ever does so with the aim to fail, but going into business with inadequate capital and financing options is an easy way for a business to crumble. Many factors go into a business owner’s lack of funding, from lack of personal capital to few networking contacts and inability to borrow from traditional sources.

To be an entrepreneur means to be someone who takes on challenges but the lack of funding could be a rock in an entrepreneur’s purse.

Equity financing is one of the ways through which capital can be raised but there has always been a strict rule regarding the way it is dished out by a company. It typically refers to the value that would be returned to a company’s shareholder if all of its assets were liquidated and all of the company’s debts paid.

A Jos based hybrid crowdfunding platform, Elesaro is posed to solving the above problem. Founded in April 2020, the platform spans from Reward-based crowdfunding to Equity and Lending. It is set to launch its native crypto token to facilitate easy transaction across its robust platform.

HOW ELESARO WORKS
Elesaro approves only exciting projects by offering exciting rewards to potential backers. It makes use of an $Elf coin, as its native token which serves as currency for transactions on the platform.

Elesaro is built on the Binance Smart Chain. Donations and pledges to a campaign can also be done through the Elfcoin. People can crowdfund as well as invest in well curated startups. About 300 million tokens can be accessed and is distributed. The token supply is fixed to ensure that the value of the token is maintained at all time.

Startups leveraging on technology can crowdfund their businesses on the platform, from creators in the music industry to comic artistes, authors and many more. Elesaro has risen over $100 for creatives with a number of successful projects.

CRESTHUB learnt that Elesaro has enabled two campaigns on the Plateau to successfully raise funds for their needs. This reporter spoke with two of the enterpreneurs that had a successful campaign.

Seth Micheal, founder and owner of Unified Camp narrated how he had started his firm in 2020 by providing materials for easy learning for students to access, use, as well as interact. Starting out, he made use of a student’s free plan to host his website until its expiration and that led to a major challenge as the website could no longer be accessed by students. He contacted Elesaro for help and created a crowdfunding campaign using various social media platforms.

Less than 48 hours into the campaign, a number of positive feedbacks and responses were received and about 25,000 naira was raised, which covered the websites expenses and more. Unified Camp is still up and running till date.

Miss Nankak Tsetu a visionary, reached out to Elesaro to enable her crowdfund for World Sickle Cell Day (June 19) to support persons battling the disease in her foundation. The Elesaro team had responded immediately and the whole process involved was set up. She was also granted a platform via their social media group to narrate her experiences to others. Donations came in and money was raised.

Elesaro is set on providing solutions to as many businesses as possible. Its campaign commission fee is extremely low compared to other traditional systems.

Speaking to CRESTHUB, Johnpaul Nwobodo, Co-founder/CEO Elesaro stated that “our goal in Elesaro is to make funding easily accessible to people. We aspire for entrepreneurs and creatives to be able to access funding not only for their projects but to also build a community around them. Our target community growth by the end of July 2021 is about 10,000 community members. We are leveraging blockchain technology to make sure Elesaro is a full grown-robust crowdfunding protocol in areas such as reward-based crowdfunding, Equity-based crowdfunding and Lending. We hope to launch our Lending platform soon to enable people to take on collateralized lending easily in the future.”

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