South Africa-based cryptocurrency investment platform Revix has raised R58.5m ($4m) in its latest funding round.
The capital injection will enable Revix to launch its mobile application and a range of “Fourth Industrial Revolution” investment opportunities. Funds will also be used to expand into the European Union and hire 30 additional staff members in South Africa.
In addition to the funding, the FinTech has joined two accelerator programmes. It is one of the 21 startups to join the six-month Berkeley Blockchain Xcelerator and is the only South African company in the cohort.
The other accelerator programme it has joined is the Wave 2 of the Qatar FinTech Hub’s (QFTH) Incubator and Accelerator Programmes, which is comprised of 11 companies.
Founded in 2018, Revix has the goal of empowering everyone to invest their own money and be their own wealth manager. The investment platform enables users to invest into cryptocurrencies like bitcoin, ethereum and PAX gold. It also lets users invest into sectors like esports and legal cannabis.
Revix CEO and Founder Sean Sanders said, “We aim to blur the lines between investing in traditional asset classes, such as stocks, as well as the emerging alternative investment sectors, such as AI, biotech, 5G, eSports and cryptocurrencies. We want to empower everyday people to safely invest in emerging themes, technologies and asset classes in an effortless way.”
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