Estonia-based Crypto-Bank Crypterium Expands Equity Crowdfunding Campaign on Seedrs; Now secures more than 2.9 million euros

Aspiring “crypto-bank” based in Estonia Crypteria extended his crowdfunding campaign on Seedrs and raised more than 2.9 million euros. The fundraising campaign, launched last month, was originally aimed at raising € 1 million and has attracted more than 2,450 Seedrs investors.

As stated previously, Crypterium said it was building a mobile app that would turn users’ coins and tokens into cash that they could spend with the same ease as cash.

We make cryptocurrency as easy to use as cash. Our solutions are designed to help users around the world enjoy the benefits and freedom of blockchain-based currencies in a secure, transparent and highly intuitive environment.

The Crypterium team also revealed why they decided to fundraise through crowdfunding:

Traditional and even challenger banks have too much to lose, too much to change. Only a cryptocurrency visionary can take this space. We will be that business, but it requires capital that current income streams cannot support in such a narrow window of opportunity. Over the next 3 years, we anticipate that we may need to raise up to $ 500 million, but for now we want to start a little smaller. This is why we want our community to be the first to participate and become shareholders of Crypterium.

Crypterium then revealed that by 2020 it has seen sustainable growth, with the number of wallet users doubling, reaching 400,000 people in 170 countries, showing ten times the growth in monthly profits and € 150,000,000 in turnover.

For the community of Crypterium users, 1.5 million CRPT is allocated to accumulate cashback when investing in Crypterium via crowdinvesting. The tokens will be distributed in a strict order of investment via the Seedrs platform. Once the total allocation of 1.5 million CRPT tokens is exhausted, no further tokens will be allocated.

The funds from the crowdfunding campaign will be used to continue the growth and development of the Crypterium platform and mobile application. The company now offers 2.17% in equity to a A pre-monetary valuation of 84.5 million euros via the roundtable, which should now close later this week.

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