Today Change, a cryptocurrency investing platform for retail investors, has closed a €3.7 million crowdfund from 50 private investors at a €175 million valuation.
Change will use the funding to grow the team, further develop its platform and expand in European and Asian markets. The round closed as Change hit twin milestones of 85,000 verified customers, a 190% increase from May 2020, and €850 million traded since its founding in 2016.
Interest from Change’s existing investment community resulted in the round being over-subscribed within 48 hours. Notably, the investors are primarily composed of Change’s original crowdfunding members, who’ve continued to be involved in the project since 2017, as well as existing shareholders.
Founded in 2016, Change has expanded significantly in the past year due to the ever-growing interest from retail investors in cryptocurrency trading and investing. Change’s team has also experienced rapid growth, doubling to 60, with plans to expand in Europe and Asian markets.
One of the few trading platforms which doesn’t charge fees on Bitcoin trades, Change has a low minimum deposit of €10 and has built a user-friendly interface geared towards beginners.
Kristjan Kangro, Founder and CEO of Change, said: “We started with a mission to empower everyone everywhere to benefit from investing – be it with cryptos or more traditional trading instruments. Not only did this mean creating a platform that was simple to use, but it also meant being independently funded and driven by our community.
“To see so many of our original investors from back in 2017 continuing to believe in and support us is incredibly inspiring. Together we’ve achieved tremendous growth over the past year especially, and our ambitious expansion plans aren’t showing any signs of slowing down.”