Finland’s Prasos has raised €2.5 million to further develop its cryptocurrency investment services that are targeted at traditional investors.
The company raised the funds through the Invesdor equity investment platform in December. More than 1,000 shareholders from Finland and abroad invested in the company, taking up to 15%.
It will use the funds to launch its cryptocurrency investment services, expand its presence in Europe, and consider relevant acquisitions. Ultimately, Prasos plans to develop its own cryptocurrency investment fund and a listing on the Nasdaq First North marketplace.
“The general interest towards cryptocurrencies has increased significantly, but the current services are not very user friendly,” said Henry Brade, CEO of Prasos. “We have invested heavily in the security of our services and we want to make the investment procedure as easy as possible for regular investors entering the market.”
Prasos is building services for traditional investors to back cryptocurrencies, which had a big year in 2017. In December, bitcoin topped a staggering $20,000.
“The sector is quite complex especially for non-tech-savvy investors and therefore the development of a traditional investment product that combines the cryptocurrency market and our knowledge about the different technologies is very interesting and has clear demand,” added Brade.