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Crypto firm Wirex raises $4.3m, surpasses initial target by 370%

UK based cryptocurrency payment firm Wirex has raised $4.3 million from the latest crowdfunding round. The amount has surpassed Wirex’s initial target by 370% with the crowdfunding round closing 15 days earlier. 

Notably, the firm raised a staggering $1.1 million within 90 minutes in the funding round that attracted about 7,000 investors. The funding was conducted in collaboration with Crowdcube, a crowdfunding platform. 

Wirex CEO Pavel Matveev talked about the implication of the record funding by the company. According to Matveev:

 “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 ambitious expansion plan

The latest funding will enable Wirex to solidify its ambitious expansion plans.

The company recently announced that it will b undergoing a product overhaul with the launch of five new currencies on the platform in Eastern European countries, as well as an upcoming release multi-currency Mastercard card, and an upgrade of its rewards scheme.

Additionally, Wirex plans to open a base in the United States and Japan in the coming months. 

Wirex currently serves over three million users having joined the market in 2014. The platform enables customers to buy, hold, exchange, and sell multiple crypto and traditional currencies from one platform. 

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Jeremy Wilson

Jeremy is a content crafter and has experience in writing about finances and digital assets for over 5 years. At he covers news related to finance, regulations, startups and cybersecurity on a daily basis.