CryptoTechFin, a Spanish start-up that develops cryptocurrency investment technology, has closed a pre-seed funding round worth close to €500,000.
The deal, executed in the middle of the current crypto winter the sector is going through, is led by investors Not Just Investments and R2 Seed Investments, a family office angel fund backed by Keith Ventures, as well as renowned business angels such as Mert Baser, co-founder of TransferChain. CryptoTechFin is also part of the Tenity (formerly F10) Global Asset balance sheet portfolio, a Swiss accelerator specialising in startups in the financial and insurance sectors.
In parallel to this new fundraising, CryptoTechFin was one of 13 companies from across Europe to graduate from the latest edition of Tenity’s incubation program in Zurich, which consisted of five months of intensive training with numerous masterclasses, personalised mentoring and exclusive access to a vast network of experts, culminating in a presentation to investors at Google's offices in the Swiss financial capital. "After our time at Lanzadera last year, it is a privilege to be part of Tenity's international ecosystem and to continue to grow beyond our borders. This step will facilitate our entry into the Central European market with the new products we are designing", says Miguel Pagán, CEO of the company.
The fintech will use this capital injection to open up a new customer segment, through a partnership with GenTwo and local Swiss entities, to assist in the creation of an investment product with a Swiss ISIN focused on professional and institutional investors. "The product will be launched this 2023 in Switzerland and Europe," details CryptoTechFin COO Gonzalo del Cerro. "The goal is to offer our technology so that institutional investors can take advantage of it, but without losing the focus on the European retail investors who have relied on it to reduce their risk when investing in cryptoassets".
Despite the difficulties experienced by the cryptocurrency market over the last year, "our clients have managed to protect their investments and consolidate their profits thanks to our technology, which works for them 24/7", explains Pagán. With a proprietary platform that displays the results obtained in real time, the executive stresses the transparency of their proposal and honestly acknowledges that CryptoTechFin "does not offer guarantees, but it does offer a higher probability of success than other non-technology-led alternatives".