Crypterium, an award-winning financial technology startup, recently raised more than €3.1 million. The money came almost exclusively from European investors via the fundraising platform Seedrs. With less than one third of its customers coming from Europe, and European investment regulation making it impossible for non-European investors to participate in the initial fundraising, Crypterium plans to hold a wider investment round for global investors. According to the Chief Operations Officer (COO) of Crypterium, Austin Kimm, “being a global startup we should have global investors, and since so many of our European investors are already Crypterium users, it only seems fair to open up the investment opportunity to our non-European Users and if other people want to invest at the same time, then of course they are welcome”. Although there are currently no details about the date of the next investment round, the Crypterium team has hinted that it will start this year.
The initial fundraising target of €1 million was hit within just 36 hours and eventually closed with an astounding 210% overfunding from investors. The equity share of the fundraising campaign stood at 3.48%, causing the capital influx to push the valuation of Crypterium to €85 million.
How the Fund will be Utilized
All funds raised during the first investment round will be channeled exclusively to product development and promotional efforts. The current capital inflow is expected to improve core business areas such as quality of service, increase product capability, and help to expand the reach of Crypterium's services around the world. Here is a concise breakdown of the funds:
- 22% will go to B2B business unit expansion
- Another 22% will be designated for global marketing efforts
- 17% will go to the launch of new products and human resources.
- Another 17% will be used for the licensing of fiat currency.
- 11% will serve as additional coverage for the Crypterium Card
- The remaining 11% will be used for product improvement and customer support.
The team behind Crypterium is also well-invested in the Company's future as they have contributed over €600,000 to the private equity sale. The CEO of Crypterium, Steven Parker, said, "Sooner or later, everyone will realize the power of digital currencies. A couple of years ago, no one could imagine that central banks would consider developing their own cryptocurrencies. And here we are, with bankers worldwide racing to join the exciting revolution of the financial system. I believe Cryperium is uniquely positioned to take advantage of this new era"
The Global Products of Crypterium
All products developed and launched by Crypterium were created from a global perspective. Some of the most notable products include the award-winning Crypterium wallet, zero-fee Crypterium Card, and the easy-to-integrate B2B solutions. All these solutions are well-optimized to efficiently serve clients from anywhere around the world. This is also applicable to the investment opportunities created by Crypterium.
Overview of the Crypterium Platform
Crypterium is a global, blockchain-powered financial technology company that seeks to bring transparency and efficiency to the world of digital asset finance. The Company was founded in 2018 to make crypto assets as easy to use as fiat currencies. The Crypterium Wallet is a one-stop solution built to help simplify digital the management of digital assets. You can buy, sell, exchange, pay, and earn interest on the Crypterium platform. With their mission to serve people worldwide, the team launched a payment-to-fiat payment card that is currently available in over 180 countries. With the Crypterium Card VISA, digital asset holders can transact in more than 42 million retailers worldwide and make withdrawals from ATMs worldwide.