Corl Financial Technologies Inc. (Corl) is launching the Corl Token (CRL), the world’s first revenue-sharing token designed to support and participate in the growth of emerging technology companies. By design, CRL represents equity ownership in Corl, a company that provides revenue-sharing financing to high-potential early-revenue companies.
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The Corl token represents equity ownership in the Corl company. Corl provides revenue-sharing financing to high-potential early-revenue companies. Token utilizes blockchain technology to issue dividends to investors, while providing a transparent and KYC-compliant decentralized market for peer-to-peer (P2P) token transfer.
Revenue sharing is when “an investor injects capital into a company in return for a percentage of its revenue.”1 Therefore, returns on initial investment are based upon monthly revenue. While this means the investor is taking a risk on the performance of a company, Corl has developed a stringent methodology as to how companies will be chosen to mitigate this risk. With Corl’s revenue sharing agreement, there will be predefined Repayment Caps in place at a rate of 1.5-2.5 times the initial investment. Corl will also have the option to purchase a maximum of 2% of the company’s equity within two years after the loan has been repaid.
One of the major benefits of the revenue sharing model is the potential for high rewards with only limited risk for both investor and the entrepreneur. In this model, entrepreneurs acquire the capital necessary for growth without having to provide collateral for bank loans or giving away portion of their company to Venture Capitalist. Therefore, the entrepreneurs bear no personal liabilities and they retain full ownership and control of their companies. For investors,revenue sharing minimizes the possibility of default through monthly payments. In the event of a default, the revenue sharing agreement between Corl and the company in question ensures that debtors are paid first.
Corl will have both an investor and a business platform. The investor platform will serve as a space where one can check their balances, dividends, and obtain all legal and tax documents. To register on the investment platform, one will have to provide an Ethereum address and documentation to verify one’s identity. They will then complete a survey to determine their risk profile and tolerance towards volatility. This will be sent to an accredited third party for identification verification purposes. The investor will be put on a whitelist, which will classify the investor as “Non-Eligible or Retail,” “Eligible,” or “Accredited.” Each of these categories comes with different requirements and investment caps.
The business platform will provide a portal on which entrepreneurs will be able to apply for funding and track their payments. Corl’s business platform is a service in which companies can directly apply for funding in less than 10 minutes. In this process, the company will “authorize Corl to connect to their payment gateways, accounting systems, and banking data”1, which will determine whether or not the company is credit-worthy. If a company meets the quantitative eligibility requirements, they will be pre-approved at the end of the application process.
With its commercial launch scheduled for the second quarter of 2018 and its first dividends to be paid in September 2018, Corl is on track to becoming one of the first companies to be fully regulatory compliant and to offer equity as a digital token. As dividend providing crypto currencies continues to become increasingly popular, the CRL token is offering an alternative form of dividend returning tokens. Corl is aiming to pay dividends in the same way as traditional stocks. Their ability to both service the investor through these dividends and to provide a new possibility for funding emerging businesses in the form of Capital-as-a-Service is what sets them apart.
The investor will be able to send Ether to Corl’s smart contract address, which will cross-reference the investor whitelist and authorize the distribution of the equivalent number of CRL tokens to the investor’s Ethereum address. If an investor tries to send funds that exceed their investment cap, the transaction will fail. At the time of the initial token sale, the equivalent of $1 USD in Ether will equal 1 CRL token. Following the token sale period, investors will be able to access the platform to track their portfolio, view dividend payouts, and view all legal documents.
Sam Kawtharani CO-FOUNDER, CEO
Derek Manuge CO-FOUNDER, CIO
Bill Tharp CHIEF REVENUE OFFICER
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