Kassio, a crypto-for-everyone platform that allows users to buy, sell, borrow, earn and utilize cryptos, has raised funds worth 1.6 million US Dollars in the pre-seed round. Kassio has raised the investment from two major European investment funds, and Aalto Capital, which has led the round.
Kassio is a comprehensive crypto platform that offers options where a user can stick to the earn feature if the trading feels risky and earn up to 13% profits simply by converting funds into a stable coin pegged to the USD. Alternatively, crypto users can instantly buy and trade in real-time and use the crypto they already own as collateral to receive instantly approved low-interest loans. Kassio also offers a unique crypto card that enables users to utilize their crypto in daily life.
Kassio will use the funds to launch its operation in the Indian and European markets, further strengthening its product development process and adding more talent to the senior management across its legal, compliance, institutional relationships, and design functions.
The platform consists of an international team. It was founded in October 2020 by Sachin Singh, Anuj Yadav, and Bharat Vivek, who have substantial experience in product development and blockchain technology.
Speaking about the fundraise, Sachin Singh, CEO and co-founder of Kassio, said, “This successful pre-seed funding round is a testimony to the strength of our project Kassio, its roadmap, offerings, and the innovation that brings together crypto investment and much-required crypto utility features”.
Swedish Investors at Aalto Capital, along with two major European investment funds, immediately saw the potential of Kassio and its team. In February of 2022, they decided to invest 1.6 million US Dollars in the company’s pre-seed round of funding to accelerate and globally scale the company’s mission of making crypto mainstream.
Shayan Khan, Partner at Aalto Capital, added, “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.”
While the product is set to exit private beta in mid-April in India and mid-May in the EU, the platform already has an AUM(Digital Assets under Management) worth 16M US dollars and a loan playbook of 9M US dollars. The freshly raised round will accelerate the execution of the product and plans in the pipeline.