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Announcements / DeFi / Blog has launched the second investment round worth $33M


By ChoiseCom

6 months ago
3 mins read has launched the second investment round worth $33M is a leading crypto firm and earn marketplace. It stands out by combining promising income-gaining solutions such as staking, yield farming, liquidity pools, interest accounts, etc. into a unified, integrated ecosystem.

Today we will share the information about the upcoming second investment round worth $33M and the related plans for the development.

Series A round is seeking a significant injection of money to enable it to immediately deliver on its potential. $33M worth of funds of the second investment round are to be deployed across the following strategies:

  • $12M – to acquire and retain 2M active users thereby bolstering token usage and building a substantial, sustainable turnover.
  • $10M – to reduce CHO pressure via buyback from early seed and private investors.
  • $6M – to improve and fast-track our diversified product line across retail and b2b.
  • $5M – to enhance CHO MM and listing strategy, including listing on Tier-1 exchanges – Binance and others from top 5.
Over the past few months we have been quietly raising funds for global retail and institutional customer acquisition campaigns. This started in May with the successful sale of our CHO token to separate funds. By now we have already secured $15M ($4M HNW and $10M from the lead investor) and launched the new equity sales on the Seedrs platform.

What’s next

We aim to score, select and bring the top earn products from the market thus occupying a market share of at least $2.2B within the next two years.

Besides, within 36 months, plans to become one of the leading service providers of the crypto market with more than 2M registered users, more than $10B under management in deposit and crypto investment products (TVL) and top 20 positioning of our native token CHO on CoinMarketCap. definitely enjoys unrivaled benefits – both market anticipation and first-mover advantage, creating solutions focused on simplicity and accessibility, which then become mainstream. $33M worth of funds are aimed at the extensive development of the company, achieving and maintaining leader positions on the market. “We need to accelerate our pace, and the new round will help,” – said CEO & founder of Vladimir Gorbunov.

Previous investment round

The first round sold out among 24 funds and private investors, and the native token CHO has since witnessed a price increase more than 350%. Over €3.1 million were raised from European investors on the Seedrs platform. The initial fundraising target of €1 million was closed with an astounding 210% overfunding from 2,535 investors.

We used the proceeds as follows:

  • 22% – B2B expansion
  • 22% – marketing expansion
  • 17% – new products launch and team expansion
  • 17% – fiat currency licenses
  • 11% – global coverage of our card
  • 11% – current products and customer support improving
Notably we increased the number of registered users from 500K to 750K, as well as the number of b2b customers from less than 10 to almost 50. We also obtained cryptocurrency registration in the UK and launched the brand new earn product line thus meeting all the goals that were set.

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