Prasos raises €2.5m to support European expansion

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fintech insurtech wealthtech regtech ai cybertech esg news

Cryptocurrency exchange Prasos has raised €2.5m in an equity round to support its expansion in Europe.

The capital was raised via the crowdfunding platform Invesdor, and hit its hard cap 12 days ahead of its official closure date. The round saw Prasos offer 15 per cent equity and attracted 1,000 new shareholders from around the world.

Finland-based Prasos is a cryptocurrency exchange and asset management company. The platform helps customers to invest into cryptocurrencies or make a one-off exchange using their wallets. Companies can also use the technology to accept bitcoin payments and other digital tokens.

With this new line of equity, the company is looking to expand into new markets and launch a cryptocurrency investment fund. In the future, Prasos is also looking to explore potential company acquisitions in target markets and further develop its exchange services.

Prasos CEO Henry Brade said, “The general interest towards cryptocurrencies has increased significantly, but the current services are not very user friendly. 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 company is eyeing a potential listing on the Nasdaq First North marketplace in the future.

Late last year, Nordic payment provider OpenSolution acquired Finnish electronic payment solution Finnpos. Through the acquisition, OpenSolution hopes to expand its geographical reach and boost its position in the Nordic region.

Copyright © 2018 FinTech Global

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