Italian fintech Young Platform raises €787,000 from 751 investors
In just 36 hours cryptocurrency exchange Young Platform sailed past its half a million crowdfunding target and finished with an impressive €787,000 from 751 investors.
The ‘crypto made easy’ platform set an initial €500,000 on Seedrs but exceeded this by 57% and now stands at a pre-money valuation of €8.5 million, thanks to Italian and British investors.
“Looking at the details, it should be noted that compared to a median investment of about €1,000, there were at least 13 investments above €25,000, demonstrating that our approach to this industry manages to keep together large institutional investors and small traders, who constitute the heart of our community and our best influencers,” says Young Platform’s CMO and head of international development, Diego D’Aquilio.
Young Platform is predominantly targeting the Italian market right now and, through its Stepdrop app, has made 80,000 users aware of the crypto world by awarding Young tokens relative to how much walking users do.
“Italian fintech has reached a high level of maturity and interest in the international community,” says Young Platform’s CEO and co-founder Andrea Ferrero. “Young Platform is only the latest Italian start-up to join a firmament of rising stars such as Oval Money and Satispay.”
Ferrero says that financial education is “fundamental” to the emerging start-up, and that users are trained on financial topics to make “informed investors out of them” one day.
Thanks to the capital injection, Young Platform will be able to confirm the release of the exchange in autumn.