Wirex raises £1m in 90 minutes on Crowdcube

Payments startup Wirex has secured £1m in just 90 minutes via its Crowdcube campaign and smashed its crowdfunding target by 370%.

Nearly 7,000 investors participated in the raise, looking to empower Wirex to develop a next-gen payments platform enabling more people to tap into cryptocurrency opportunities.

The news comes after Wirex launched five new currencies on the platform in Eastern European countries. It will use the money to fuel the upgrade of its rewards scheme and upcoming release of its multi-currency Mastercard card, which will be launched on October 21.

“Since opening pre-registration for the private sale, we’ve had an overwhelming response from users around the world wanting to invest in Wirex,” said Pavel Matveev, CEO and co-founder of Wirex. “Our performance so far has proven to investors that we are making incredible advances in the fintech and crypto spaces, and this growth will only continue.”

He added, “It’s great that our customers have had the opportunity to own a part of Wirex, and we can’t wait to share our upcoming successes with them. Our mission is to democratise access to cryptocurrency, and this successful crowdfunding campaign is one step further in achieving this goal.”

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