Banking alternative for Web3 Nebeus beats crowdfunding goal

Banking alternative for Web3 Nebeus beats crowdfunding goal

Nebeus, a banking alternative for Web3 that integrates traditional banking and cryptocurrencies, has reached its crowdfunding target of €1.1m.

The crowdfunding campaign, which is being held via the Seedrs platform, is still live and has another 16 days left. At the time of writing, Nebeus has raised €1.19m from 128 investors.

This capital has been raised at a pre-money valuation of €40m, with shares being sold at €23.92 apiece. Nebeus has offered 2.89% of its equity through this sale.

Nebeus is an IBAN account for crypto holders. Users can either spend directly from their Nebeus Euro IBAN or a GBP Sort Code account without needing to withdraw crypto gains to another bank.

In addition to this, the platform allows users to buy, sell and exchange cryptos and stablecoins at low fees. Users can also rent their cryptos to earn monthly reward payments, stake cryptos, borrow up to 80% of the value of held crypto and buy an insurance policy for bitcoin and Ethereum.

According to the crowdfunding page, the company has over 130,000 users and the number of transactions on its platform has grown by ten-times. Additionally, it highlights a handful of new products in the pipeline, trading, DeFi and credit.

The page also outlines its monetisation strategy. It generates recurring revenue through a subscription model where customers pay a monthly fee for accessing top tiers of the firms Money Accounts.

The company also makes money through its cards. While the first card is free for users, any additional card comes at a cost. Other income lines come through loans and credit, and transaction fees.

Nebeus previously held a crowdfunding campaign through the Crowdcube platform back in 2018. The sale also had a target of £1.1m.

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