Easy Crypto closes first round of funding with $12 million

• Easy crypto will use funds for global expansion
• The platform gives full protection to the traders
• Users can purchase and sell over 150 coins on Easy Crypto’s site

Easy Crypto, a New Zealand-based cryptocurrency exchange, said in a press statement that it has concluded a $12 million Series A fundraising round. 

The round was led by Nuance Connected Capital, with contributions from Pathfinder, an ethical pension provider, and GDP Venture, a company located in Indonesia. Hutt Capital, Seven Peaks Ventures, Icehouse Ventures, and Even Capital, all based in the United States, also took part in the round.

Nuance provides the expertise and resources that great New Zealand entrepreneurs require to take their company global. With no prior angel or seed financing secured, this Series A is believed to be the largest initial funding deal done by any New Zealand company. The round was signed for fifty percent more. Large blockchain fund managers have already expressed interest in investing more than US$7 million (142 Bitcoin) in a later Series A+.

Expansion spree

The funds would be used to expand globally into new markets, according to the exchange, which said the round was 50 percent oversubscribed. Easy Crypto stated in the press release that it intends to expand its operations throughout Southeast Asia. Easy Crypto is already well-established in South Africa, Australia, the Philippines, and New Zealand.

Users can purchase and sell over 150 coins on Easy Crypto’s site. The three-year-old company, established by siblings Janine and Alan Grainger, has experienced a fivefold increase in users in the last year. The company has seen significant expansion, with sales exceeding US$750 million (1,500 Bitcoin) and platform user numbers nearly doubling in the last 12 months.

Janine Grainger, the company’s CEO, stated, This funding will accelerate our global growth trajectory, making cryptocurrencies easily accessible to even more clients throughout the world. Easy Crypto is already present in South Africa, Australia, the Philippines, New Zealand, and Brazil, with intentions to expand rapidly throughout Southeast Asia.

Focus on safety 

Easy Crypto allows traders to trade with confidence by ensuring that all orders are fully protected. Neither funds nor private keys are stored on the exchange. The user retains complete control over their funds at all times. Furthermore, there are no hidden fees on the platform. The user is charged for what they view. Trade is possible 24 hours a day, seven days a week.

Earlier this year, it was revealed that a New Zealand accounting company would verify legal stablecoin launches by validating quarterly New Zealand dollar reserves backing the stablecoin.