Italy-based cryptocurrency exchange platform, Young Platform, has closed its equity crowdfunding campaign on Seedrs with a total of €787,480 in funding secured. The funding round was launched on the equity crowdfunding platform earlier this summer and quickly secured its initial €500,000 funding target while attracting 751 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 launch 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
Speaking about the investment round, Diego D’Aquilio, CMO and Head of International Development at Young Platform, stated:
“With the campaign just wrapped up, the results proved our choice was good. Thanks to 751 Italian and British investors, we raised 787,480 Euros, 57% more than our initial target of 500,000 Euros. Looking at the details, it should be noted that compared to a median investment of about 1,000 Euros, there were at least 13 investments above 25,000 Euros, demonstrating that our approach to this industry manages to keep together large institutional investors and small traders, who constitute the heart of our community and our best influencers.”
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.
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