NASSAU, BAHAMAS — Over 650 persons have invested in offerings on the ArawakX platform in the past two days following the launch of Red Lobster Pinnacle Brands and Bahamas Myfi, company executives have reported.
“The interest we are seeing is exactly what we hoped for. Many of the persons particularly smaller investors may be investing for the first time,” said D’Arcy Rahming Jr, Chief Technology Officer of ArawakX.
He added, “By all indications, this is a good indicator that Red Lobster and Bahama MyFi may have thousands of customers lined up already. Momentum is being built as more and more investors are realizing that they can invest using their cellphones.”
ArawakX has a proprietary Fintech technology, that was developed in Silicon Valley. It was specifically designed for the Bahamian market to match the countries regulations.
All information on the listed companies can be found on the ArawakX.com portal.
“The technology was chosen and designed to be fast and flexible and easy to use. We also continue to work with the regulators which allows the rules to take into account the best use of technology,” said Rahming.
He continued: “We have a young team of professionals at ArawakX that have chosen to reverse the brain drain. It’s a pleasure that we can finally come home and contribute in a meaningful way to the new financial services model.”
Pinnacle Franchise Brand is looking to raise at least $2.7 million to cover the cost of construction, outfit the Red Lobster restaurant, and provide working capital.
The company plans to open the first Red Lobster restaurant in New Providence in 2022, the second in 2023, a third in Jamaica in 2024, then the Dominican Republic and Trinidad in 2026 and 2028 respectively.
Bahama MyFi, an augmented reality-based travel ecosystem is seeking a capital injection of $1.8 million to remain solvent, hire staff, complete ongoing redevelopment of its major applications and acquire necessary assets.
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