Leading Nordic bitcoin broker Prasos breaks records raising €2.5M
PRESS RELEASE Helsinki, 4 January 2018 – Prasos raised €2.5m in equity funding to boost its expansion in Europe and to develop cryptocurrency based investment services for traditional investors.
The equity offering was launched on the Invesdor platform on November 9th and the company reached the first million at the beginning of December. The investment pace kept growing and the last million of the 2.5 million euro cap was invested during only six days as fear of missing out started to speed up investments. Finally the round was closed on 23rd of December - 12 days before the official closure date.
“We have a very positive view of the future of our sector and expected the round to be successful, but the reception that we received in the market exceeded all our expectations. We are very satisfied with the result and grateful for the confidence that all our investors have placed in us. Our company has challenging work ahead and this capital boost will help us to gain better results faster,” comments Henry Brade, CEO of Prasos.
In this round Prasos offered up to 15% of equity and found more than 1,000 new shareholders from Finland and abroad.
Future plans include expansion to new markets and launch of a Cryptocurrency Investment fund
During the following years the company plans to invest in expansion in Europe, study potential company acquisitions in target markets and further develop its exchange services to lower the barrier for traditional investors to enter to the market. Prasos's future vision is ambitious and it also plans to develop a Cryptocurrency Investment fund.
“The general interest towards cryptocurrencies has increased significantly, but the current services are not very user friendly," Brade adds. "We have invested heavily in the security of our services and we want to make the investment procedure as easy as possible for regular investors entering the market."
"The sector is quite complex especially for non-tech-savvy investors and therefore the development of a traditional investment product that combines the cryptocurrency market and our knowledge about the different technologies is very interesting and has clear demand.”
The current investment round was the latest phase in Prasos’s plans as the company eyes a potential future listing on the Nasdaq First North marketplace.
More information and interview requests:
Commercial Director /Prasos Oy
email@example.com, tel. +358 44 231 6864
CEO, Co-founder/Prasos Oy
firstname.lastname@example.org, tel. +358 41 501 4485
Communications manager, Invesdor Ltd.
email@example.com, tel. +358 40 747 5205
Prasos in brief:
Prasos is concentrated in the exchange of cryptocurrencies and asset management. The company was founded in Jyväskylä in 2012 and the company´s current team consists of 15 professionals from different business areas. Prasos has over 60 000 clients in Europe and it operates under the following main brands: Bittiraha.fi, Coinmotion.com and Denarium. Trading volume across all Prasos services was over 100 million EUR in 2017. For more information, please visit prasos.fi
Invesdor in brief:
A financial technology (fintech) company founded in Finland in 2012, Invesdor operates an online investment platform that connects ambitious European growth companies with investors worldwide. Invesdor has helped raise more than 40 million euros for more than a hundred businesses. Invesdor's clients include private and publicly traded companies from Finland, the UK, Sweden, Norway and Denmark as well as investors from more than 70 countries. Invesdor has offices in London and Helsinki. Invesdor is the Nordic market leader in equity crowdfunding platforms measured in invested capital in 2015 and 2016. More information at invesdor.com