Snowball Money, an app-based platform that seeks to help users generate more money from their crypto investments, has hit its $600,000 maximum funding goal through its Regulation CF (Reg CF) round on crowdfunding platform, Republic. The campaign has attracted more than 1,900 investors.
Founded in 2018, Snowball claims to be the first smart crypto investment automation (SCIA) platform that enables access to professionally curated portfolios, empowering everyone to invest like accredited investors. As previously reported, the platform’s anchor product will be a high-interest USD-denominated account. Snowball is also planning to provide portfolios of tokenized Gold, Venture Capital, real estate, etc. and add support for the other blockchains beyond Ethereum – a one-stop digital asset platform that operates similar to a bank.
“Your digital assets work for you generating income topping what traditional financial services usually provide. According to a recent post, Snowball has been generating 3.67% in interest for users. Many banks are offering negative real rates of return.”
Snowball founder and CEO, Parul Gujral, recently explained how his company is different from other DeFi platforms:
- Snowball has a yield aggregation smart contract which optimizes the returns of tokens of up to 20%
- Superior UI/UX which previously was nominated for an Apple Design Award
- Proprietary portfolios
- Distribution Channels with over 220,000 on a waitlist, partnerships with companies like Monarch (more than 400,000 users) and social media following of over 10 million people in their in-house network
Snowball also noted its “yield-optimization smart contracts aim to provide up to 20% higher interest rate than DeFi competitors.”
“In addition to the high-interest account, Snowball provides access to the features that the crypto market has never seen before: our proprietary risk-adjusted portfolios, tokenized gold, shares of the early-stage technology companies, and staking portfolios.”
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