As per the latest reports, Easy Crypto has made an announcement in regards to a successful funding round. Easy Crypto is a famous cryptocurrency exchange that is based in New Zealand. The exchange has revealed that it has successfully $11.75 million from the funding round. At the time of writing, the mentioned figure translates to NZ$17.00 million.
Easy Crypto has revealed that it has successfully generated the amount through a successful Series A funding round. The firm has revealed that the proceedings from the funding round will be used in order to go for a public launch. The exchange has revealed that it is going to go for an initial public offering (IPO). The exchange has announced that it will soon be going for the IPO and gain more prominence in the country and around the world.
The exchange executives have also provided more details in regards to the funding round. According to the exchange, several firms participated in the Series A funding round making it a huge success.
Among all the major investors, it was Nuance Connected Capital, a venture capital fund that led the funding round. According to the reports, the funds generated by Easy Crypto are the highest amount of funds raised by any crypto-firm in New Zealand. So far, it has been the highest amount generating funding round in the history of New Zealand.
Janine Grainger, the CEO, and co-founder of Easy Crypto has talked about the successful funding round the firm has carried out. Grainger stated that they are really excited that the funding round has helped their platform achieve a new milestone. It is of really high importance and significance for the firm that they have generated these many funds.
Grainger revealed that the cryptocurrency sector in New Zealand is not very supportive and profiting. The cryptocurrency industry is yet to gain a lot of prominence and adoption in the country. Therefore, in order to establish the amount of interest of the investors in the crypto sector in NZ, they went for the investment round.
However, they are glad that they held the funding round, which successfully helped it generate huge funds.
According to the exchange, the funds will be used for the advancement of the cryptocurrency sector in the country. They will be making huge developments in the NZ cryptocurrency sector. Their main goal is to introduce new products for the cryptocurrency community in the country.
However, they are aiming to make the products very lucrative and attractive, so they manage to bring in more crowd towards the sector.
The team has revealed that the particular funding round it held was oversubscribed. This meant that they could only cater to 50% of the total investors wanting to invest in the round. Some of the major investors included Seven Peaks Ventures, Hutt Capital, GDP Venture, Even Capital, Icehouse Ventures, Pathfinder, and many more.