PayRue, a European based wallet focusing on exchange, transfer, and storage of cryptocurrencies, is now seeking £100,000 through its equity crowdfunding campaign on Seedrs. PayRue is now offering 1.96% in equity at a £5,005,156 pre-money valuation.
Founded in 2018 by Mikael Olofsson and Ingemar Svensson, PayRue was created to support the growth and mass adoption of cryptocurrency. To do this, the company offers an application that allows users to exchange, hold, and transfer cryptocurrency.
“PayRue is offering services that will support the growth for cryptocurrency as a new emerging asset class. With already built and working technology and growing user base we feel we are well positioned to further expand our user base whilst adding on new services and cryptocurrencies.”
Since its debut, PayRue’s platform has achieved the following:
- PayRue has grown their user base over 22k registered users and over 4,500 KYC approved users since official launch in March 2019
- The application is live on iOS, Android and Web app
- The company has been self-funded so far
- Regulated in Estonia for Crypto exchange and Digital Wallet services
- Patent and Trademark PayRue for UK and EU
PayRue noted it offers exchange services of BTC, ETH, XLM, Propel and USDC. Users can also scan a QR code to transfer the exact payment for goods and services. Funds from the Seedrs round will be used for:
- Allocation of funds will be invested 40% product development, 40% marketing and 20% admin.
- The development of the product is in line with the ambition to add further coins, debit cards and features to the overall PayRue proposition.
- Develop the company towards its Series A Round.
The campaign is set to close this fall.
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