Oscar Jofre Jr., Co-Founder, President/CEO at KoreConX
, is currently one of the Top 10 Global Thought Leaders in Equity Crowdfunding, a Top 5 Fintech Influencer, Top 10 Blockchain and a Top 50 InsureTech. He has published an eBook that has been downloaded in over 20 countries and been distributed by partners worldwide.
Oscar is a featured speaker on Fintech, regulated, equity crowdfunding, compliance, shareholder management, investor relations, and transparency in the USA, Australia, UK, Germany, France, Netherlands, Canada, Singapore, Indonesia and China. He speaks to audiences covering alternative finance, RegTech, insurance, banking, legal, and crowdfunding. Oscar also advises the world’s leading research, accounting, law firms and insurance companies on the impact Fintech, RegTech, LegalTech, InsurTech and OrgTech are having in their business.
He is a member of the Crowdfunding Intermediary Regulatory Advocates (CFIRA) in the USA, and a contributing author to The Fintech Book, the world’s first crowdsourced book on Fintech globally. He writes for Sharewise, Locavesting, Equities.com, Business.com, Crowdfund Insider, CrowdfundBeat, and Agoracom.
From an economic point of view, it is very premature to predict what we have for the next months and years, but within all the effects that this pandemic brought, it is notable that people have increased the desire to have their own companies and go digital.
MEDIA 7: Could you please take us through your journey to becoming one of the most influential thought leaders in equity crowdfunding, fintech, and insurtech?
OSCAR JOFRE JR: My career was built on bringing innovative solutions, not only for the business but with the purpose of making a real impact on people's lives. With this background, I founded BabelFish, which was the first online language translator; and this platform was the predecessor of online services that we know nowadays. After this business, I could develop and participate in other initiatives related to facilitating the language industry. In 2003, I founded BoardSuite, a SaaS-based platform to manage board documents in order to help businesses to avoid issues with compliance. This experience made me understand what the biggest issues and challenges for companies were, when it came to managing and storing their documents - one of the functionalities of our KoreConX All-In-One platform.
In 2016, I had the opportunity to act as an Advisor for a Regulated Crowdfunding, and the idea there was to create a crowdfunding platform to raise capital for cannabis businesses, as this sector was emerging as one of the most important ones and this portal was focused on offering access to the business. After that, I gained more experience in the technology industry acting as Chairman and Advisor for many companies. With this background, I decided to start a new business venture to unite the features and innovations that the world of technology has, with the goal of empowering entrepreneurs to raise capital for their businesses. KoreConX was created, not only to help companies manage their documents and communication with their shareholders in a simple way, but also to empower these people with functional tools in a secure All-in-One platform.
M7: Your e-book, Equity Crowdfunding 101: The Global Phenomenon, is a grand success. Could you please tell us more about it?
OJ: Thank you for the recognition! This book was written with the entire purpose of guiding people and allowing them to understand that crowdfunding is neither impossible nor difficult. During all these years, I saw an uncountable number of companies that tried to grow (often with an incredible idea and purpose, but with limited amounts of money) and were faced with a bunch of obstacles. So, I decided to write an easy-to-read guide with a friendly tone to provide people with all the information they would need to empower themselves and to understand all the ways to raise capital. It is important to note that this ebook is available in English, Spanish, and Mandarin. I am happy that my book could reach a lot of people to demystify this environment.
Being online is not an option anymore, it is completely mandatory to all the sectors to survive. It is a huge opportunity for KoreConX, to help these people to emancipate themselves through their businesses.
M7: What does KoreConX’s all-in-one platform contain that efficiently and securely manages business data?
OJ: KoreConX’s All-In-One platform is the first in the Private Capital Markets to be based on blockchain infrastructure utilizing Hyperledger Fabric to help manage the entire life cycle of company-issued securities. We are the first industry solution to have an End To End product solution that enables companies to issue their securities digitally through a Primary offering, all the way through to a Secondary Trading Market called a Digital ATS (Alternative Trading System), which is broker-dealer operated and approved by FINRA.
M7: How does KoreConX’s issuance management platform simplify operational processes for broker-dealers?
OJ: When it comes to our solutions for broker-dealers, our All-In-One platform allows the management of their clients' fundraising activities such as personal data, documents, and all related information for their checkings. They are able to view all the required data in one location. In addition, our compliance management system is part of the all-in-one solution and facilitates efficient compliance with regulatory requirements. It is vital for our partners, due to the long and tedious process that they have to face. KoreConX platform optimizes this journey and saves time.
We are the first industry solution to have an End To End product solution that enables companies to issue their securities digitally through a Primary offering, all the way through to a Secondary Trading Market called a Digital ATS
M7: What are the top challenges you see for the industry in general and KoreConX this year?
OJ: Not only for tech industries, but all sectors have been coping with a challenging scenario brought by the COVID-19 pandemic since last year. Although, companies that already had an innovative culture and mindset, certainly are getting by more softly regardless of the emergency and all the changes that have emerged not only in our industry but in society as well. From an economic point of view, it is very premature to predict what we have for the next months and years, but within all the effects that this pandemic brought, it is notable that people have increased the desire to have their own companies and go digital. Being online is not an option anymore, it is completely mandatory to all the sectors to survive. It is a huge opportunity for KoreConX, to help these people to emancipate themselves through their businesses.
M7: Knowing what you know now, what advice would you give to your younger self?
OJ: Stay the course and continue the journey.
Founded in 2016, KoreConX is the first secure, All-In-One platform that manages private companies' capital market activity and stakeholder communications. With an innovative approach and to ensure compliance with securities regulations and corporate law, KoreConX offers a single environment to connect companies to the capital markets and now secondary markets. Additionally, investors, broker-dealers, law firms, accountants, and investor acquisition firms, all leverage our eco-system solution. For investor relations and fundraising, the platform enables private companies to share and manage corporate records and investments: it assists with portfolio management, capitalization table, and shareholder management, virtual minute book, security registration, transfer agent services, and virtual deal rooms for raising capital. The All-In-One platform manages the full life cycle of digital securities, including their issuance, trading, clearing, settlement, management, reporting, corporate actions, and custodianship.