Kassio, a crypto platform has raised$1.6 million in pre-Seed funding round from Aalto Capital.
The company plans to use the funds to launch its operations in the Indian and European markets, further strengthen its product development process, and add more talent to senior management across its legal, compliance, institutional relationships, and design functions.
The platform offers options where a user can stick to the earnings feature if trading feels risky, and can make up to 13 percent profit by converting the funds to a stable coin for dollars, the company said in a statement.
Kassio was founded in October 2020 by Sachin Singh, Anuj Yadav, and Bharat Vivek, it is a safe & legally compliant global crypto asset management platform that allows users to buy, sell, borrow, earn and use crypto.
“This successful pre-Seed funding round is a testimony to the strength of our project Kassio, its roadmap, offerings, and the innovative product that brings together crypto investment and much-required crypto utility features”, said, Sachin Singh, CEO and co-founder of Kassio.
“While crypto is the next biggest equalizer after the internet revolution, Kassio with its strong offerings is a project that changes the whole dynamics of the community. I am confident that Kassio will be instrumental in providing quality crypto offerings to end-users and bring about the change that the world has been waiting for in this ecosystem”, said, Shayan Khan, Partner at Aalto Capital.
The platform already has an AUM (Digital Assets Under Management) of $16 million and a loan playbook of $9 million, before the company’s products are set to exit private beta in India in mid-April and in the European Union in mid-May.
kassio has disbursed over $9 million in loans across 50+ cryptocurrencies through its platform. In addition, it is available in more than 30 countries.