The Finland-based startup Prasos just raised funds to boost its expansion in Europe and to develop cryptocurrency based investment services for traditional investors. The equity crowdfunding campaign was done on the Invesdor platform, where Prasos raised €2.5 million. The campaign was successfully ended 12 days before the official closure date.
Founded in 2012, Prasos is the Nordics leading cryptocurrency service provider and offers a great variety of bitcoin related services under the brand names Bittiraha.fi, Coinmotion, Denarium, Bittimaatti and BTCStore.eu. Prasos also offers consultancy services for companies and organizations in different applications of the distributed ledger technology and count with a team of experts in the field.
Prasos CEO Henry Brade commented: “We have a very positive view of the future of our sector and expected the round to be successful, but the reception that we received in the market exceeded all our expectations. We are very satisfied with the result and grateful for the confidence that all our investors have placed in us. Our company has challenging work ahead and this capital boost will help us to gain better results faster.”
In this round Prasos offered up to 15% of its equity and achieved over 1000 new shareholders from Finland and abroad. The future plans include expansion to new markets and the launch of a Cryptocurrency Investment fund
During the following years the company plans to invest in the expansion in Europe, study potential company acquisitions in target markets and further develop its exchange services to decreased the barrier for traditional investors to enter to the market. Prasos´ future vision is ambitious and it also plans to develop a Cryptocurrency Investment fund.
Brade adds: “The general interest towards cryptocurrencies has increased significantly, but the current services are not very user friendly. We have invested heavily in the security of our services and we want to make the investment procedure as easy as possible for the regular investors that are entering the market. The sector is quite complex especially for non tech savvy investors and therefore the development of a traditional investment product that combines the cryptocurrency market and our knowledge about the different technologies is very interesting and has clear demand.”
The current investment round was the last this type of phase in Prasos’ plans as the next potential step is to get listed in the First North market place.