Prasos, a Bitcoin broker seeking to make Bitcoin investing mainstream, has successfully surpassed €2 million from more than 1,000 investors through its equity crowdfunding campaign on Invesdor. The company launched the funding round last month and quickly secured its initial €750,000 funding target. Its maximum target is €2.5 million.
As previously reported, Prasos described itself as the leading Bitcoin service provider in the Nordic region. The company was co-founded by CEO Henry Brade, a leading Crypto expert in the region. Prasos now services more than 50,000 customers with a total exchange value of €80 million. The company is also 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.”
The company also shared details about its growth since its previous Invesdor campaign:
“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.”
Sharing the exciting news about Prasos achieving €2 million, Brade tweeted:
Our funding round broke 2 million EUR today. It will very likely go to the 2.5 max, so invest now if you still want in. We’re not taking oversubscriptions. https://t.co/yZdPTGcMfK #bitcoin #investment @prasosltd @Invesdor
— Henry Brade (@Technom4ge) December 20, 2017
Prasos is notably 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. The campaign is currently set to close on January 4th.
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