This fintech startup just raised about $1 million in 36 hours through a crowdfunding campaign

If you are a startup founder looking to raise new capital for your great idea, probably your initial thoughts would be to go to angel investors and venture capitalists. However, maybe you should consider a crowdfunding campaign. Crowdfunding is rapidly becoming the major source of funding for seed-stage startups.

Many startups with little fund are taking the crowdfunding route. Young Platform is a brand-new cryptocurrency exchange that allows you to buy and sell digital assets with FIAT money safely, quickly and easily. Looking to raise 500,000 Euros on the British crowdfunding platform Seedrs, the crypto startup end up raising 787,480 Euros in just 36 hours. YoungPlatform  is now valued at 8.5 million Euros at pre-money valuation. The startup will use the new funding to confirm the release of the exchange in autumn and take on a leadership role in the Italian market in even faster.

“With the campaign just wrapped up, the results proved our choice was good. Thanks to 751 Italian and British investors, we raised 787,480 Euros, 57% more than our initial target of 500,000 Euros,” states Diego D’Aquilio, CMO and Head of International Development at Young Platform. “Looking at the details, it should be noted that compared to a median investment of about 1,000 Euros, there were at least 13 investments above 25,000 Euros, 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.”

“Italian FinTech has reached a high level of maturity and interest in the international community,” says Andrea Ferrero, CEO and Co-Founder, along with 5 other peers, of the promising Italian venture incubated in Turin’s I3P. “Young Platform is only the latest Italian startup to join a firmament of rising stars such as Oval Money and Satispay.”

The Italian market is the primary target of Young Platform, the first crypto-exchange designed with ease of use at its center, to allow anyone to take part in the great revolution of “decentralised finance, powered by blockchain”. More than an exchange, Young is an entire ecosystem.

“Financial education is fundamental to us – adds Ferrero. In fact, through our Stepdrop app (which allows you to earn Young tokens simply by walking) we have reached more than 80,000 users made aware of crypto-world, users that we are training on these topics in order to make informed investors out of them.”

“This capital injection, for which we would like to thank all investors once again, together with a lean corporate structure and one of the lowest acquisition costs in the industry, will allow us to confirm the release of the exchange in autumn and take on a leadership role in the Italian market in even faster, thus accelerating our vision of making these powerful tools available to everyone,” concludes Samuele Raimondo, CTO at Young Platform.