Young Platform, an Italy-based cryptocurrency exchange platform, is now seeking 500,000 through equity crowdfunding platform Seedrs. Started in 2017 (launched in 2018), Young Platform is on a mission to make crypto accessible for everyone.
“Our first step on this journey has been the development of Stepdrop, the app that allows to convert the steps you take during the day in Young, our own cryptocurrency. Stepdrop has been conceived to draw the largest number of people possible to this new world. With the Young you collect on Stepdrop, you can purchase products and services on the Marketplace section of our app.”
In just one year, Young Platform has been able to achieve:
- 2 successful capital injections from Angel Investors
- 54,000 Stepdrop app download in 4 months (in Italy)
- 15,000 active users per week on the Stepdrop app
- Technology Partnership with Modulus, an exchange developer, for patented technology to enhance the system security
- Team expansion, from 6 full-time employees to 17 people;
- Presence in London (at Level 39), Turin and Tallinn (Estonia)
- Growing community on multiple social media channels (incl. Telegram, Facebook Ambassador Group)
The Young Platform team also revealed:
“Because the customer acquisition cost is very low (on average 0,10€), we were able to bring the cryptocurrency world closer to a new target audience that showed interest on the subject and even participated in our online Educational program. Our educational blog has been read by over 26,000 users.”
In regards to what the funds from the Seedrs round will be used for, the team added:
“The equity raised will be used to hire new international resources that will help to expand our team, pay for our infrastructure and all relevant licences needed to operate in new territories and accelerate customer acquisition on a global scale. We will also use the funds to accelerate the pace of the development of our products. Currently, some services will be made available in the Young ecosystem via partnerships with licensed third-parties. The chart below displays the breakdown of spending by area.”
Since its launch, the campaign has raised more than €435,000 from 170 investors. It is set to close mid-August.
Have a crowdfunding offering you'd like to share? Submit an offering for consideration using our Submit a Tip form and we may share it on our site!