Estonia's Raison, a private tech stock broking app and crypto asset manager, recently increased its valuation to $30 million.
The valuation upgrade, from $11.5 million previously, was confirmed by Raison investor Server Partners after Raison assimilated its US-regulated stock broking affiliate, Raison Asset Management.
The US business will now be merged with Raison's core operation, giving investors using its app a unified brand and source of privately-held tech stocks for making investments.
Raison's investment app is currently used by more than 30,000 HNWI and retail investors in 34 countries, providing access to 20 top-tier tech stocks, including Space X, Neuralink, and OpenAI. Further growth is anticipated in 2023 thanks to a new broker/dealer/adviser licence from Astana's International Finance Centre.
The Kazakhstan regulator's award is expected to support Raison's expansion in the CIS region, made up of former Soviet Union states.
Raison's app is also due to be upgraded adding stock market and virtual asset functions along with its existing venture capital and private equity coverage.
Alex Zaytsev, Raison CEO and co-founder, commented: "As the world continues to adopt digitalization and simplicity in its services, Raison commits to following these trends and creating solutions that meet today's needs of investors,”