Just days after launching its equity crowdfunding campaign on Seedrs, Italy-based cryptocurrency exchange platform, Young Platform, has successfully secured its initial €500,000 funding target. As previously reported, Young Platform is on a mission to make crypto accessible for everyone. The platform further explained:
“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 in 2018, the platform has already 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 Young Platform’s team, as well as pay for the platforms infrastructure and all of the licenses needed to operate in new territories. the company added:
“We will also use the funds to accelerate the pace of the development of our products. Currently, some services will be made available in the Young ecosystem via partnerships with licensed third-parties. The chart below displays the breakdown of spending by area.”
The funding round is currently set to close mid-August.
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