Crypto Platform Kassio Receives Pre-Seed Funding Of $1.6 MN Led By Aalto Capital

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Kassia, crypto for everyone platform that allows users to purchase, sell, borrow, earn, and use cryptos, has announced that it has secured $1.6 million in a pre-Seed round of fundraising.

Kassia obtained funding from two major European investment funds in February 2022, with Aalto Capital successfully leading the round.

According to a statement from the company, users can stick to the earn feature if trading feels hazardous, and earn up to 13 percent profits by converting funds into a stablecoin tethered to the dollar.

Alternatively, crypto users can buy and sell in real-time and use the crypto they currently hold as collateral to earn low-interest loans that are authorized instantaneously. Kassia also has a cryptocurrency card.

What Will Be Done With The Funds?

Kassie plans to use the cash to expand into the Indian and European markets, as well as to improve its product development process and expand its senior management team across legal, compliance, institutional connections, and design.

The platform was launched in October 2020 by Sachin Singh, Anuj Yadav, and Bharat Vivek, all of whom have extensive experience in product development and blockchain technology, according to the announcement.

“This successful pre-Seed funding round is a testament to the strength of our project Kassio, its roadmap, services, and the creative product that combines together crypto investing and much-needed crypto utility features,” stated Sachin Singh, CEO and co-founder of Kassio.

Conclusion

While the product is set to leave private beta in India in mid-April and the EU in mid-May, the platform now has a $16 million AUM (Assets under Management) and a $9 million loan portfolio.

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