Prasos, a Bitcoin broker seeking to make Bitcoin investing mainstream, is looking to raise a minimum of €750,000 and a maximum €2.5 million on Invesdor. Praso is offering 5% to 14.91% in equity in the company at a pre-money valuation of €14.26 million. Praso expects top line revenue of €3 million for 2017. The company is described a the leading Bitcoin service provider in the Nordic region.
Co-founded by CEO Henry Brade, a leading Crypto expert in the region, Prasos currently services over 50,000 customers with a total exchange value of €80 million. Today, Prasos is currently handling €8 million in transactions per month. Revenue consists mainly of exchange commissions. Our 2015 revenue was € 340,000, in 2016 we reached € 822,000 (+ 142%). In the current financial year, we expect to grow to EUR 3 million (+ 270%) in 2017. Our goal is to continue strong growth and achieve 5-6 X revenue over the next three years.
“Since our first Invesdor funding round in 2015, our revenue has quadrupled and by the end of this fiscal year we are seeing our revenue increase at a faster pace. The company is currently highly profitable, but as the sector is growing rapidly, we need to invest in the international expansion with larger stakes,” saya Brade. “We also want to further develop our investment services to regular investors that want to diversify their investment portfolios into cryptocurrencies.”
Brade adds that existing shareholders have received the round well and new investors from Finland and other countries have backed the company.
“Prasos has developed tremendously since its first funding round on the Invesdor platform, and we are very impressed with their growth,” says Invesdor CEO Lasse Mäkelä. “It’s a very interesting time to be investing in companies that keep the bitcoin system running, and Prasos has established itself as a leading player in the field. There might be an interesting investment case to be made here.”
Prasos is looking to expand internationally, first is to become the leader in Europe and expand their services under the Coinmotion brand. They may list on NASDAQ First North in the coming years.
Prasos is aided by a range of advisors and investors including; Alistair Milne (Co-Founder & Portfolio Manager at Altana Digital Currency Fund and Technology/Media/Telecoms (TMT) entrepreneur), Khalid Aziz (Telco and communication industry specialist with an extensive network of industry influencers), and Ville Oehman (Entrepreneur and investor based in Singapore, currently focusing on bitcoin, FinTech and cybersecurity sectors).
Aziz says that Prasos has the strategy and vision right;
“The leadership is strong and the team is prepared to take the business to the next level. We are very conscious and will continue being very conscious about the emerging challenges in the ecosystem. We need to continue being agile to succeed in such a fast moving environment.”
Brade believes there is great potential in the development of secure services for regular investors. Prasos is focusing on making the investment procedure easy and convenient for all.
“We are the leading provider of Bitcoin services in the Nordic countries. The next step is to become the leader in Europe,” says Brade.
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