The world’s first blockchain IPO has closed in a milestone moment for distributed ledger technology.

Porsche- and T-Mobile-backed Greyp raised €1.4 million via the Neufund platform, 179 per cent of the cap.

E-mobility leader Greyp, a Croatian tech company which makes electric bikes, attracted a total of 1,017 investors from 34 countries with a minimum investment of just €100.

It was the first fully-compliant blockchain-based initial public offering accessible to retail investors.

The offer was conducted under the laws of Liechtenstein.

“It’s an exciting day for Neufund and huge step forward for the security tokens industry at large,” said Neufund CEO and co-founder Zoe Adamovicz.

“We have proven that private companies can effectively use blockchain IPOs, whilst lowering the barrier to entry for retail investors.

“Neufund is the future of stock exchanges.”

Berlin-based challenger investing and fundraising platform Neufund will now distribute the earnings from the first offer (3% of capital raised, 2% of equity issued) pro rata to all NEU token holders, a community consisting of all Neufund’s users.

Last year, the company disbursed proceeds worth over €111,000.

Neufund today announced that the next issuer will be Germany-based Black One Entertainment, with companies from India and Belgium in the pipeline.

€17.4m has already been deployed through Neufund, and more than 11,000 investors from 111 countries have registered since the platform's launch in 2018.