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Cryptocurrencies represent a huge opportunity for a paradigm shift in how our financial institutions, political systems and economies function. Currencies like Bitcoin, Etherium and Ripple have been some of the best performing assets over the past twelve months, with millions of people in the UK alone already invested.
Alongside technological development and the emergence of new crypto platforms, it’s easier than ever before to buy, trade and spend cryptocurrency. As more companies follow Tesla’s lead, accepting cryptocurrency as payment, the question arises… are we heading toward a fully digital financial system?
If you ask Vladimir Gorbunov and Austin Kimm, the co-founders of leading fintech crypto app Crypterium, cryptocurrency is about to go mainstream. Founded in 2017, the startup has shown impressive growth and global traction, now trusted by over 400,000 customers in 170 countries worldwide, with platform transaction volume tripling over the last 12 months to over €150 million. Built like a bank, but for crypto, Crypterium acts as a singular wallet and payment card that allows its users to effortlessly manage their finances, meaning they can store, buy, invest, cash-out and spend crypto at the click of a button, just as easily as they would fiat money. The platform supports a range of digital currencies including BTC, ETH, LTC, CRPT and many more, and users can transfer their crypto with just a phone number or wallet address to any recipient in any country in the world, for free.
If you look at Statista’s 2021 Report, the number of Blockchain wallet users worldwide has skyrocketed in the last decade, to an astounding 70 million users in April of this year.
Number of Blockchain wallet users worldwide from November 2011 to April 13, 2021
However, despite growing demand, most of these wallets don’t serve customers’ needs. Many users (particularly beginners) still find cryptocurrency difficult to use. Crypterium is tackling this problem head-on with a user-friendly UX that makes handling crypto – whether you’re investing, spending or cashing out – as easy as handling cash. For those fluent in digital finance on the other hand, the biggest dilemma has traditionally been the inability to withdraw their currency as cash, or spend it online or in stores. Crypterium has solved this problem as well, with the launch of its Visa card that worked just like any other Visa card – you can use it instantly in over 100 million POS terminals all over the world, withdraw at any ATM, or pay from your device using Apple Pay, and soon Google Pay, too.
The other, often overlooked customer, is the corporate one. Businesses also want in on crypto action, but often don’t have the time, resources or expertise to use it in a way that benefits their growth. For this use case, Crypterium has developed an easily integrated, white-labeled B2B solution for businesses. Both B2B and B2C channels in aggregate generated nearly €1,000,000 in revenue in the last 3 months, and net user acquisition cost is expected to fall to zero as revenue grows*.
While Crypterium’s growth has been impressive over the last year, (gross profit showed 10x growth in 2020*), the team is only just getting started. With the help of the €2.4 million they’ve raised so far in this round on Seedrs, Crypterium aims to be downloaded on every third smartphone in the world in the next seven years, amounting to over 1 billion users. To get there, they’ll be dedicating the proceeds to expand their product offering, hire the best talent and power their profitability in the near-term.
To find out more about Crypterium, and for the chance to join over 2,000 investors, visit the pitch now.
* Based on unaudited management accounts