Italian crypto startup Young Platform has secured €3.5 million in funding.
New partners and investors include United Ventures, which led the funding round. A select pool of Italian and international investors participated, including Ithaca Investments, Luca Ascani as a scout for Accel, Max Ciociola and Pietro Invernizzi.
Ithaca Investments is notable because it is the company of Luigi Berlusconi, the youngest son of former Italian Prime Minister Silvio Berlusconi, an entrepreneur and one of the richest men in Italy and the world.
Young Platform and the dream of becoming an industry leader in Italy
Young Platform was born in 2018 from the idea of six computer science students from the University of Turin with a passion for blockchain, namely:
- Andrea Ferrero,
- Alexandru Stefan Gheban,
- Samuele Raimondo,
- Andrea Carollo,
- Marco Ciarmolie
- Daniele Rinaldi.
The aim of the six students is to simplify access to the world of cryptocurrencies by aiming not only to create an exchange but also a real educational platform. To date, Young Platform has around 300,000 users.
With the funding obtained, Young aims to grow in the cryptocurrency landscape by expanding its organizational structure, improving its technology, and making important partnerships.
All this will be done in the name of compliance: in agreement with the regulatory authorities.
Massimiliano Magrini, Managing Partner of United Ventures, commented:
“Blockchain technology and the cryptocurrency industry have reached a turning point. Financial education and compliance will be key to move to the next phase and give more and more people access to this evolving asset class that has so far been reserved for too narrow a circle of users. Young Platform’s founders are among the most knowledgeable in Italy about the dynamics of this evolving market and have the ambition and skills necessary to bring the revolutionary vision of decentralized finance to the ground, building an enabling technology platform that can respond in a progressive way to the needs of users building and managing digital assets”.
Andrea Ferrero, Co-Founder and CEO of Young Platform, added:
“We are thrilled and proud to undertake the beginning of the scale-up path with an exceptional partner like United Ventures and with the direct support of Massimiliano Magrini and Giulia Giovannini. I am sure that the path we have undertaken together will bring Young Platform to become the Italian market leader by the end of the year. We are still at the beginning of the crypto era, and we believe that with the support of this exceptional partner, Young Platform will be able to carve out, starting from the Italian market, an important role at the European and international level within the sector”.
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