Tallinn-based CoinMetro, which aims to bridge the gap between traditional finance and blockchain technology with its own financial ecosystem, has raised 2.5 million euros through a bond sale aiming to speed up its growth.
CoinMetro said it would invest in expanding its team, improving its product, including launching a new mobile app, and grow its marketing budget.
We will use this momentum and the fund raised from our CoinMetro Bond to keep growing at 30-50% MoM growth rate. We are aiming to grow our revenues in 2021 to exceed 6 million euros, it said in a statement.
CoinMetro, founded by Kevin Murcko, has raised a total of 12 million euros.
The new CoinMetro Bond pays 8-12% annual interest over a fixed two-year term. The interest payments are made daily right back to your CoinMetro account balance.