Tallinn-based startup Coinmetro has recently announced its acquisition of Ignium, a blockchain-based fundraising platform for small and medium-sized enterprises (SMEs). Through a tokenized ecosystem, Coinmetro provides users with a friendly gateway, allowing them to get involved in the crypto and wider fintech space with an ease of access not yet seen in the industry. The acquisition, valued at €4 million, will enable Coinmetro to develop an active market for equity trading while providing essential services in the securities market.
Estonian startup Ignium.io was designed to cater to the financial needs of small businesses by allowing them to quickly and easily raise funds from their communities using non-fungible tokens. With the acquisition, Coinmetro plans to expand Ignium’s product offering and create a first-of-its-kind solution in the crypto market. The acquisition of 71% of Ignium’s shares has already been completed, with Coinmetro aiming to acquire the rest by April 2023.
“SMEs are enduring one crisis after another, from Covid, to inflation, to a potential recession. They are also the type of business least catered to by traditional financial services. SMEs, however, have a key asset: their highly engaged communities. This is particularly marked in the crypto sector. Companies that nurture their communities can then reap the benefits of turning their loyal customers into engaged investors, made possible with products such as Ignium’s blockchain technology.” says Kevin Murcko Coinmetro Founder & CEO.
Ignium Co-founder & CEO, Reimo Hammerberg added: “Ignium has a long-standing relationship with Coinmetro – they are one of our first customers and their community members are active users of the Ignium product. We share an understanding of the importance of community in commercial success, which makes us confident that our clients will be in the best possible hands with Coinmetro.”
