Young Platform, a new platform that simplifies access to the world of cryptocurrencies, has announced raising €3.5 million in a Series A round. United Ventures, the Italian venture capital firm specializing in investments in digital technologies, is the lead investor, with a pool of select Italian and international investors and business angels, including Ithaca Investments, Accel scout Luca Ascani, Max Ciociola, and Pietro Invernizzi, also participating.
Founded in 2018 by six Computer Science students from the University of Turin sharing a passion for blockchain technology since high school, Young Platform aims to simplify access to the world of cryptocurrencies through a hub of digital products. Young Platform is aimed at meeting the needs of different segments of users, from beginners to experts.
Young Platform’s focus is also working to improve the landscape of compliance. The startup is working alongside regulators to actively participate in the evolution and consolidation of the crypto landscape in Italy. Created to bring transparency, inclusion and education to the world of personal finance and digital assets, Young Platform will continue to develop new services related to cryptocurrencies and decentralised finance, while maintaining its community-driven identity, and focus on user education through user-friendly products.
To date, there are over 100 million cryptocurrency holders worldwide, and the market has entered a new phase, as demonstrated by Coinbase‘s recent debut on the New York Stock Exchange with a record $85 billion valuation – but the implementation of blockchain within financial applications has just begun.
In just three years Young Platform, which is based at the I3P incubator of the Politecnico di Torino, has established itself as one of the most promising Italian companies in the field of digital currencies, with a constantly growing community that now counts 300,000 total users.
Their fresh investment aims to strengthening the platform’s technology, the development of new products, the expansion of the organizational structure, and the consolidation of the crypto scene at the Italian and international levels through strategic partnerships.
Massimiliano Magrini, Managing Partner of United Ventures, commented: “Blockchain technology and the cryptocurrency industry have reached a turning point. Financial education and compliance will be key to move to the next phase and give more and more people access to this evolving asset class that has so far been reserved for too narrow a circle of users. Young Platform’s founders are among the most knowledgeable in Italy about the dynamics of this evolving market and have the ambition and skills necessary to bring the revolutionary vision of decentralized finance to the ground, building an enabling technology platform that can respond in a progressive way to the needs of users building and managing digital assets“.
Andrea Ferrero, Co-Founder and CEO of Young Platform, also commented: “We are thrilled and proud to undertake the beginning of the scale-up path with an exceptional partner like United Ventures and with the direct support of Massimiliano Magrini and Giulia Giovannini. I am sure that the path we have undertaken together will bring Young Platform to become the Italian market leader by the end of the year. We are still at the beginning of the crypto era, and we believe that with the support of this exceptional partner, Young Platform will be able to carve out, starting from the Italian market, an important role at the European and international level within the sector“.