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Coinmetro Secures $7 Million in Funding to Fuel Global Expansion

Coinmetro, a digital currency exchange, has raised $7 million in a recent funding round, valuing the company at 180 million euros. The funds will drive expansion in the US, UK, and Europe, and support the development of products to combat inflation and rising interest rates.
Published on 2022-11-07

Coinmetro Raises $7 Million to Expand Operations

Coinmetro, a rapidly growing digital currency exchange, has successfully raised $7 million in a recent funding round, bringing the company's valuation to 180 million euros. This capital injection will enable the firm to expand its operations in key markets, including the US, UK, and Europe.

New Products to Address Economic Challenges

The exchange plans to use the funds to develop innovative financial products designed to help users navigate the challenges of rising inflation and interest rates. These products aim to provide customers with tools to manage their finances more effectively during uncertain economic times.

Strategic Growth and Investor Confidence

The current fundraising round is a precursor to a larger Series A round expected in Q1 2023. Over 100 existing stockholders, along with new investors, contributed to the funds, demonstrating strong confidence in Coinmetro's vision and growth potential.

Company Background and Regulatory Compliance

Founded in 2018 in Tallinn, Estonia, Coinmetro is registered with major regulatory bodies such as the US Financial Crimes Enforcement Network (FinCEN), Canada’s Financial Transactions and Reports Analysis Centre (FINTRAC), and Australian regulators. The company is also in the process of obtaining a license in the UK, further solidifying its commitment to compliance and trust.

CEO's Vision for the Future

Kevin Murcko, CEO and founder of Coinmetro, emphasized the company's ability to thrive despite crypto market volatility. He highlighted the importance of understanding market dynamics and anticipating the next phase of crypto's evolution. Murcko expressed optimism about the company's growth, stating, "We have no shortage of ideas and are looking forward to making them real for our growing community."

Focus on Innovation and Customer Acquisition

The latest funding round is expected to drive further innovation and attract new customers who are increasingly recognizing the value of Coinmetro's offerings. With a clear roadmap for expansion and product development, the company is well-positioned to capitalize on emerging opportunities in the crypto space.

Coinmetro's successful fundraising round underscores its commitment to scaling operations, innovating products, and delivering value to its customers in a competitive and evolving market.

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