Easy Crypto, a local crypto market based in New Zealand, received a whopping $17 million in funding from top investment fund administrators. After the success of the funding round, Easy Crypto is seriously considering an IPO. According to reports, Easy Crypto’s funding offering was oversubscribed. As a result, various domestic and foreign actors led the funding round.
Some of them included Nuance Connected Capital (an Auckland-based venture capital), Ice House Ventures, Pathfinder KiwiSaver and several other overseas players. Among these overseas players, Easy Crypto CEO and co-founder Janine Grainger said the profitable funding round was a watershed event for the company and the entire crypto industry in New Zealand.
Grainger also said that Easy Crypto received a lot of constructive feedback during its meetings with major investors. These pitch meetings took place during the company’s boom, even before it received the gigantic funding. Grainger also mentions that although they have good funding, it was quite difficult to find investors, mainly due to the controversy and uncertainty surrounding the crypto industry.
She says, “Cryptocurrency is still seen as a bit fringe, a bit volatile, and I think it took us a while to find investors who maybe had that forward-looking and strategic vision to be able to take a hit. up on what we are. Do.” It was a constant search and struggle for 13 months, after which they received their first investment. And then the business exploded and went to raise $17 million over three weeks.
Easy Crypto, a New Zealand-based company, was established towards the end of 2017 by current CEO, Grainger, and his brother Alan. Their start was buoyed by growing interest from New Zealand online operators in the gambling industry who expressed their confidence in Bitcoin.
Easy Crypto operates as an online retailer dealing with Bitcoin and cryptocurrency. The company processes a total of 150 different crypto coins for consumers. The company buys these currencies from vendors at the lowest possible price range and then offers them to customers.
This business has attracted more than 150,000 consumers from regions such as New Zealand, South Africa, Australia and Brazil. The company has recorded over $1.1 billion in crypto sales through its platform over the past three years.
In this boom time, Grainger generated a whopping $5 million in revenue in the last fiscal year. During the current year, the company is on track to generate double the turnover that it developed the previous year. The company’s underlying profit was about $3.7 million in the last fiscal year. This year, it is expected to decline as the company secures more investments.
Easy Crypto – a brief overview
Easy Crypto is a crypto platform for trading. Here you can buy and sell cryptocurrencies without any problem. It’s the fastest, safest and most convenient way to buy and sell digital currencies such as Bitcoin, Tron, Ethereum, etc. Easy Crypto assures you that they do not save your fund details or your private information.
But, you control all your funds and account and transaction details. Easy Crypto considers the security of its consumers as a top priority. You can trade over 100 different digital currencies. Easy crypto does not charge any hidden fees and the prices displayed at the start include everything. Their service is available 24 hours a day, 7 days a week, and you can get all the support you need.
Grainger said their funding would significantly boost the company’s operations. It will serve as fuel to expand the range of what they offer. It also allows them to enter new markets in Indonesia and the Philippines. Grainger sees a great opportunity in this capital injection.
“We are targeting these markets because there is a large population of unbanked or underbanked people who do not have the same access to financial products as you and I do.” Long term, Grainger is really looking at a stock float.
As a company, she says, “We’re still working on what this looks like and our plans for the future, but we’re most likely looking at an IPO (initial public offering).” As for her motivation and that of her team, she is of the opinion: “But what really motivates us is, more importantly, what we will offer to customers and what we will offer to customers around the world. »
She further states, “I see Easy Crypto as a real New Zealand success story, a household name up there with Rocket Lab and Xero, and something New Zealanders can point to as one way we have had an impact globally. on the world. .”
Adrien Gheur, founding partner of Nuance Capital, notes that “Easy Crypto is a New Zealand-based company that helps break down barriers to financial products for people around the world. This aligns with our deep technology investment strategy that delivers smart, scalable solutions to global problems.
It should be noted that Easy Crypto has strategically moved into new markets to make more profits and expand its product line. Going public is a big decision to make, but then they were backed by big backers who funded their business.