Kassio announced a $1.6 million pre-seed investment round on Wednesday. Two large European investment funds and Aalto Capital, which headed the round, have invested in Kassio.
The funds will be used to expand into the Indian and European markets, boost its product development process, and hire additional senior management expertise in legal, compliance, institutional connections, and design.
“This successful pre-seed funding round is a testimony to the strength of our project Kassio, its roadmap, offerings, and the innovation that brings together crypto investment and much-required crypto utility features,” said Sachin Singh, CEO and co-founder, Kassio
According to a Chainalysis research, the Indian crypto industry grew 641 percent from July 2020 to June 2021, making it one of the world’s fastest growing cryptocurrency industries.
Kassio is a full crypto platform with alternatives such as sticking to the earn feature if trading seems hazardous and earning up to 13% rewards just by changing funds into a stable coin pegged to the US Dollar.
Kassio also offers a one-of-a-kind crypto card that allows customers to use their cryptocurrency in everyday life. A worldwide crew makes up the platform. Sachin Singh, Anuj Yadav, and Bharat Vivek, all of whom have extensive experience in product development and blockchain technology, formed the company in October 2020.
While the product is slated to exit private beta in India in mid-April and the EU in mid-May, the platform already has a $16 million Digital Assets under Management and a loan.
Published By: Manan Khurana
Edited By: Subbuthai Padma
