Easy Crypto believes that the success of the funding round “demonstrates increasing confidence in the role of cryptocurrency in the financial ecosystem.”
New Zealand’s Easy Crypto has set a new record for a Series A funding round in the country. When all was said and done, the company raised NDC $17 million ($11.7M USD). Nearly double what was expected. The most funded round by a New Zealand firm was the first time that outside investments were used by Easy Crypto. Up until now, the company, founded by siblings Janine and Alan Grainger, was funded internally. “Easy Crypto has not received angel or seed capital,” it claims in the press announcement.
The round was led by Nuance Connected Capital and saw contributions from Pathfinder, Icehouse Ventures, Even Capital, GDP Venture, Hutt Capital, and Seven Peaks Ventures.
Speaking on the investment by his company, Founding Partner of Nuance Capital Adrien Gheur stated that it was his belief that global crypto users will grow 80% annually over the next three years. “There is increasing global evidence of the adoption of crypto-assets & blockchain as a mainstream form of trade, payments, and exchange.”
Funds will help refine tech and increase team size
The company will be putting their newly raised funds to use with the goal to “bring blockchain technology and financial freedom to the masses much faster.” According to Easy Crypto, the funding will help to expand outwards at the same time it re-invests in the currency team. “We will also be hiring and curating talent to ensure help is always given to customers who ask.”
The announcement adds that Easy Crypto will work towards “strengthening our roots in compliance with the regulations in any jurisdiction where we operate.” A goal that has been on the minds of many other crypto exchanges worldwide as regulations tighten.
The crypto exchange plans to use a portion of the funds they help educate the public on how to buy, sell and trade cryptocurrencies along with other topics. “We believe that knowledge is the key to forming a deep appreciation of blockchain technology and the crypto space with all its intricacies,” the release says.
CEO of Easy Crypto Janine Grainger added that “The caliber of institutional investors and high level of interest demonstrates increasing confidence in the role of cryptocurrency in the financial ecosystem.”
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