Tallinn-based Currynomics Labs, the creator of ‘new money’ Redcurry has secured €400,000 in funding. Investors in the round include Ecosh Life, Impulse Generator Fund, Pasi Pohjala (FinBAN), Aleksander Denisoff, Asse Sauga, Dejan Mansfeld-Rupnik, and Markus Pejacsevich. The fresh funding will rocket Redcurry into its final stage of development before the real estate-backed digital currency becomes globally available in 2024.
"Redcurry represents a new era for money. It's designed to grow in value while providing stability and reliability in today's ever-changing financial landscape. Traditional currencies can be printed limitlessly and lose value because of inflation, making them ineffective for saving up," says Neeme Liivlaid, CEO and co-founder of Currynomics Labs.
"At the same time, cryptocurrencies are complex and volatile, making them ineffective for payments. Money backed by rent-generating commercial properties, such as office buildings and shopping centres, Naturally solves both problems. We are excited to see many industry leaders and prominent investors share that understanding and join in supporting our efforts to better the global monetary system and build the innovative technology required for that," he says.
Lead image: via Redcurry. Photo: Uncredited.