Wirex Achieves Record Crowdfund for Crypto Company, Raising Over £3.7 Million

News provided by

Oct 14, 2020, 06:06 ET

LONDON, Oct. 14, 2020 /PRNewswire/ -- Wirex, the next-gen payments platform sending waves through the fintech and crypto spaces, has raised £1 million in just 90 minutes and smashed its crowdfunding target by 370%. Nearly 7,000 investors took part to support Wirex on its mission to democratise access to cryptocurrency.

Having closed their crowdfunding 15 days early, the amount raised makes Wirex the best performing crowdfunding campaign by a crypto company in history undertaken in partnership with leading equity crowdfunding platform, Crowdcube.

Aiming to give fintech fans and it's 3.1 million customers the opportunity to invest in Wirex before they scale-up, this funding will help to solidify Wirex's ambitious plans in the coming months. Wirex recently announced a revolutionary product overhaul. This has already seen the launch of 5 new currencies on the platform in Eastern European countries, as well as an upcoming release of Wirex's highly-anticipated multicurrency Mastercard card, and upgrade of its rewards scheme. The company also has ambitious plans to diversify their user base, with an exciting launch in the US and Japan in the pipeline.

Pavel Matveev, CEO and co-founder of Wirex, described how pivotal this moment is in Wirex's history: "Since opening pre-registration for the private sale, we've had an overwhelming response from users around the world wanting to invest in Wirex. Our performance so far has proven to investors that we are making incredible advances in the fintech and crypto spaces, and this growth will only continue."

Wirex have already demonstrated their innovation in the space, developing a product that allows customers to buy, hold, exchange and sell multiple crypto and traditional currencies from one platform. The company not only launched the world's first crypto-enabled debit card, but also the first crypto rewards scheme. With the core aim of bridging the gap between the traditional and digital economies, the platform aims to bring cryptocurrency to a mainstream audience, as cryptocurrency adoption rates continue to sky-rocket across the globe.

Matveev went on to explain that, "It's great that our customers have had the opportunity to own a part of Wirex, and we can't wait to share our upcoming successes with them. Our mission is to democratise access to cryptocurrency, and this successful crowdfunding campaign is one step further in achieving this goal."

Following the success of the crowdfunding, Wirex will open an exclusive waitlist for the upcoming European launch of their Mastercard debit card on Wednesday 21st October, which can be found on the Wirex website.

Notes to editors:

About Wirex

Wirex is a worldwide digital payment platform and regulated institution that has forged new rules in the digital payments space. In 2015, the firm developed the world's first contactless payment card that gives users the ability to seamlessly spend crypto and traditional currencies in real life.

Wirex was created in 2014 by CEOs and co-founders Pavel Matveev and Dmitry Lazarichev, who identified the need to open up the esoteric world of cryptocurrencies and make digital money accessible for everyone. With the core aim of making it as easy as possible to use digital assets in everyday life, Wirex provides a trusted and cost-effective service for crypto and traditional currency transactions by incorporating the next generation of payments infrastructure integrated with cryptocurrency blockchains.

With over three million customers across 130 countries, the company offers secure accounts that allow customers to easily store, buy and exchange multiple currencies instantly at the best live rates on one centralised mobile app. Quick and simple money transfer options are available, as well as the freedom to spend 150+ traditional and cryptocurrencies in more than 54 million locations around the world using the Wirex card.

Wirex continues to develop the product in line with market developments, whilst adhering to regional regulations and securing appropriate licencing where it exists. A proven industry pioneer, Wirex introduced the world's first bitcoin reward programme, Cryptoback™, which earns cardholders up to 1.5% back in Bitcoin for every in-store transaction they make. They also launched their own native utility token, WXT, which entitles holders to rewards and incentives such as heavily-discounted fees and higher Cryptoback™ rewards.

Wirex is based in London with offices in Singapore, Kyiv, Tokyo, Toronto, Dallas and Atlanta. With over $3bn worth of transactions processed already and rapid expansion into new territories, Wirex is uniquely placed to support and promote the mass adoption of a cashless society through creative solutions.

| wirexapp.com |

SOURCE Wirex