Italy-based cryptocurrency exchange platform, Young Platform, is set to close its Seedrs campaign with nearly €800,000 in funding. The funding round was launched on the equity crowdfunding platform earlier this summer and quickly secured its initial €500,000 funding target. It has attracted more than 700 investors.
“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.”
Since its debut last year, Young Platform has achieved the following:
- 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
Funds from the Seedrs round will be used to her new international resources that will help expand its team, as well as pay for the platforms infrastructure and all of the licenses needed to operate in new territories.
Young Platform is offering investors 5.56% in equity at an €8.5 million pre-money valuation.
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