The intuitive crypto-exchange for a new generation of investors with an innovative acquisition tool.
- Turin, Italy
Categories: Finance & Payments Digital Mixed B2B/B2C
- Social Media
- Company number
- Incorporation date
- 12 Jun 2018
- Investment sought:
- Equity offered:
Digital assets are becoming increasingly traded: Daily crypto trading volume went from $20B in Jan '19 to $100B in May '19 with a general increase of 25% in prices for key digital assets. A new wave of investors is approaching the market and we are building the Young Ecosystem to help them invest in an easy and intuitive way. With the Young Ecosystem you can:
1) Earn our token Young (YNG) with Stepdrop App by simply walking;.
2) Easily buy the most trusted cryptocurrencies in less than 30 seconds using Young Platform;.
3) Trade with the advanced features and competitive fees on Young Platform Pro.
Through its Stepdrop App Young platform has achieved:
- Over 50k downloads in 4 months
- An average of 23k active users per month
- Client acquisition cost of €0,10.
Functional, secure and with all the features required by today’s users, we believe Young Platform is what the market was waiting for to become mainstream.
Young Platform project started in 2017 by 5 college students. Back then, the cryptocurrency exchanges weren’t designed for the general public and we found that investing in cryptocurrencies was difficult. We found that there were some dissuading factors related to the market, such as: 53% of the public in the US found cryptocurrencies difficult to understand, 22.7% thought that the Exchanges were too difficult to use, and 70% said that the investment was too risky.
We created Young Platform to change that as we believe that in the near future a massive flow of new users will enter the crypto-market.
Today’s hyper-connected world is moving to a new asset class where Bitcoin and other cryptocurrencies (Like Ethereum) are leading the growth.
We want to make crypto trading available to everyone by offering an easy to use and intuitive platform.
We're not yet regulated for launching a Virtual Currency Exchange and a Virtual Currency Wallet in Europe, but we will be working towards getting this regulatory approval.
Substantial accomplishments to date
In just one year, Young Platform has been able to achieve:
- 2 successful capital injections from Angel Investors;
- 54K Stepdrop app download in 4 months (in Italy);
- 15k active users per week on the Stepdrop app;
- Technology Partnership with Modulus, an exchange developer, for patented technology to enhance the system security;
- Team expansion, from 6 full-time employees to 17 people;
- Presence in London (at Level 39), Turin and Tallinn (Estonia);
- Growing community on multiple social media channels (incl. Telegram, Facebook Ambassador Group);
Because the customer acquisition cost is very low (on average 0,10€), we were able to bring the cryptocurrency world closer to a new target audience that showed interest on the subject and even participated in our online Educational program. Our educational blog has been read by over 26,000 users.
And this is only the beginning!
Young Platform will have 3 main revenue streams: (1) Fee from the Exchange transactions, (2) Token sale as a service, (3) B2B services.
The main revenue stream will be gained from the fee paid to execute trading actions on the Young Platform and Young Platform Pro. The type of fee will vary according to the nature of the operation that will be performed. The highest fee is linked to the trading of cryptocurrencies with Fiat money because it covers the management costs of the classic payment circuits for the transfer of funds.
With the Token sale as a service, Young Platform wants to provide a service to execute the allotment of new tokens. Through this service, users have the certainty of participating in a token sale, without being tricked into a phishing manoeuvre.
In the coming years, we believe a lot of institutional investors will enter the market and Young Platform plans to provide a set of services for this kind of customers, such as OTC trading and custody.
Use of proceeds
The funds raised will be used in two ways: (1) International expansion and (2) Product Development.
Starting in the last quarter of 2019, we plan for our fast-growing startup to expand internationally. The goal is to establish ourselves as a consolidated enterprise, first in Italy and in the UK and then in the rest of Europe.
The equity raised will be used to hire new international resources that will help to expand our team, pay for our infrastructure and all relevant licences needed to operate in new territories and accelerate customer acquisition on a global scale.
We will also use the funds to accelerate the pace of the development of our products.
Currently, some services will be made available in the Young ecosystem via partnerships with licensed third-parties. The chart below displays the breakdown of spending by area.
Please note that Young Platform does not currently have regulatory approval for launching a Virtual Currency Exchange and a Virtual Currency Wallet in Europe, however they will be working on their application to receive this approval.