Estonia-based aspiring “crypto-bank” Crypterium has extended its equity crowdfunding campaign on Seedrs and has raised more than €2.9 million. The funding round, which launched last month, originally sought to raise €1 million and has attracted over 2,450 Seedrs investors.
As previously reported, Crypterium stated it is building a mobile app that will turn user’s coins and tokens into money that they may spend with the same ease as cash.
“We make cryptocurrency as easy to use as cash. Our solutions are designed to help users from all over the world enjoy the benefits and freedom of blockchain-based currencies in a safe, transparent, and highly-intuitive environment.”
The Crypterium team also revealed why they decided to seek funds through crowdfunding:
“Traditional, and even challenger banks have too much to lose, too much to change. Only a cryptocurrency visionary can take this space. We will be this company, but it requires capital that current revenue streams can not support in such a compressed window of opportunity. Over the next 3 years we anticipate that we may need to raise as much as $500m, but for now we want to start a little smaller. That is why we want our community to be the first to participate and become shareholders of Crypterium.”
Crypterium then revealed that in 2020, it saw sustainable growth, with the number of wallet users doubled, totaling to 400,000 people across 170 countries, showing ten times monthly profit growth and €150.000.000 turnover.
“For the community of Crypterium users 1.5 million CRPT is allocated to accrue cashback when investing in Crypterium through crowdinvesting. Tokens will be distributed in strict order of investment via the Seedrs platform. Once the total allocation of 1.5 million CRPT tokens is exhausted, no further tokens will be allocated.”
Funds from the crowdfunding campaign will be used to continue the growth and development of the Crypterium platform and mobile app. The company is now offering 2.17% in equity at an €84.5 million pre-money valuation through the funding round, which is now set to close later this week.
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