Pigzbe raises $7.2m in first day of ICO

Digital wallet provider Pigzbe raised $7.2m in the first day of its ICO, moving within touching distance of its $8.8m hard-cap.

The Wollo crowdsale had a soft cap set at $2.85m and will be live until 31st October. Alongside this ICO, the company has won first place in the ICO Race in Switzerland. The prize for winning was a $600,000 cash prize and a listing on the crypto exchange Bitfinex.

London-based Pigzbe is a digital wallet that aims to educate and encourage children about financial principles. It works by pairing a physical game controller to the wallet app, which gamifies the earning, saving and spending money experience.

Parents purchase Wollo tokens, instead of handing out pocket money, which the child can then earn through the app. The company is currently working on a payment card to enable children and parents to use the cards to spend the tokens online and offline.

Users that purchase 5,000 Wollo will receive a Pigbe pink gaming controller, and those that buy 10,000 tokens will receive the controller and a Pigzbe Black cold storage wallet.

Pigzbe CEO and founder Filippo Yacob said, “By creating a blockchain-first piggy bank, we have the opportunity to give an entire generation of children financial superpowers, while helping families get to grips with crypto along the way.”

Earlier in the year, fellow child-focused personal finance solution Current netted $10m in its Series A round of funding. Current is a mobile application that is linked to a physical debit card, helping teens to become more financially responsible and educated.

Copyright © 2018 FinTech Global

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