South African Crypto Currency Trading Platform Secures R58.5 Million In Funding
South African Crypto Currency Trading Platform Secures R58.5 Million In Funding. Crypto currency investment platform, Revix, with offices in Cape Town and London, has raised R58.5 million in off-shore capital funding. Founded in 2018 on the principle that everyone should be able to invest their own money and become their own wealth manager, the business’ customer growth has mirrored the exponential rise in the crypto currency market which is valued at over $2 Trillion – making the digital asset class more valuable than Apple.
According to Tech Financials, The capital will be used to launch Revix’s mobile application, a variety of Fourth Industrial Revolution (4IR) investment opportunities, and for expansion to the European Union. Locally, the funding will allow for the creation of more than 30 additional South Africa-based jobs, proof that regulating crypto currencies in South Africa can offer employment opportunities and long-term economic growth.
“We aim to blur the lines between investing in traditional asset classes, such as stocks, as well as the emerging alternative investment sectors, such as AI, biotech, 5G, eSports and crypto currencies. We want to empower everyday people to safely invest in emerging themes, technologies and asset classes in an effortless way.” Sean Sanders, CEO and Founder of Revix told Tech Financials.
“We’re building a behavioural loyalty model that incentivises investors to undertake smart investment decisions, such as diversifying their investment portfolios, growing the investment community, improving their financial knowledge and making smart long-term investment decisions, while being rewarded for doing so,” Sanders explained.
In addition to the funding secured, Revix was also one of 21 start-ups, and the only South African FinTech, to be accepted into the world-renowned six-month Berkeley Blockchain Xcelerator. “The accelerator is renowned for partnering with businesses that target global societal challenges by using novel technologies. Revix has created a platform that has the potential to break down the barriers to access within this alternative investing space,” Jocelyn Weber, director of X-Labs and Berkeley’s Blockchain Xcelerator told Tech Financials.
“We’ve managed to achieve monumental growth in our first three years holding strong to our mission to help people reach their financial goals, while providing alternative investment options in a rapidly developing space,” Sanders added.
