Crypterium Equity Sale Overfunded By 223% Soon After Launch
As the cryptocurrency sector exploded, cryptocurrency companies started investing not only into coins, but in each other, as well, thus helping other firms grow and expand the reach and benefits of the crypto industry as a whole. One example is Binance, which recently led a funding round for MOUND by investing $1.6 million. Another example is Crypterium — a company best known for its crypto wallet — which recently launched its equity sale that already got overfunded by as much as 223%.
The goal of the sale was to raise 1,000,007 EUR, but it already exceeded 2,237,013 EUR from 1838 investors, and with 11 days left to go.
Crypterium Equity Sale Performs Surprisingly Well
Crypterium is an award-winning fintech startup, so it is not a huge surprise that its equity sale became a hit on Seedrs. The very fact that it got launched on Seedrs — which is known for being extremely strict when selecting projects — set investors’ minds at ease.
Now, through Seedrs, investors got a chance to purchase private equity from Crypterium, which is offering six benefit packages, ranging from the minimum ticket of only 100 EUR, to massive ones of 50,000 EUR.
Each of the investment categories are coming with numerous benefits, like free access to Crypterium’s price prediction tool, priority access to Beta testing of upcoming new features, participation in shareholder meetings, and more. There are even cashbacks on Crypterium Card purchases.
The company’s wallet, which is its flagship product, also saw great success in 2020, expanding its reach to over 400,000 people in over 170 different countries. In fact, Crypterium itself benefited from the crypto industry in 2020, likely due to the unique circumstances that the coronavirus pandemic has forced upon the world.
Stuck at home, uncertain about the future of fiat currencies, people started turning to crypto, which also means crypto wallets. Crypterium recorded a 10x growth in monthly profits, reaching a turnover of 150 million EUR.
Impact Of The Global Pandemic
Crypterium is not the only one to benefit in 2020 and 2021 — the crypto market reached its first trillion in market cap due to the increased interest in crypto, and then a second one as well, as Bitcoin’s own market cap went beyond $1.17 trillion. Earlier today, Bitcoin’s price also surpassed $62,500, while Ethereum also went beyond $2230.
As for Crypterium, it found itself in the middle of this chaos, with the pandemic on one side, the success of crypto on the other, and as a well-diversified, global company that is also fully regulated, it got an opportunity to go on Seedrs, which it took. The checks that the platform conducted were rigorous, but in the end, they were worth it, as a new path of unique growth opened up before the firm.
The fundraising will do a lot for the company’s plans, particularly as it far exceeded its end goal. It will support medium-term expansion plans that the company has come up with in multiple regions. In addition, it will help future developments, such as launching its VISA card in the US, new DeFi products and trader tools, fiat accounts, expansion deeper into Asian markets, fee reductions, further development of B2B services, expansion of its team, onboarding global corporate customer base, and much, much more.
All in all, Crypterium has shown that it has the plan and the ambition, and all it lacked was the means to achieve it. With the equity sale underway, it already has more than it asked for regarding the means, and so now there is nothing standing in its way of becoming one of the greatest companies of its kind in the world.
© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.