Crypto Platform Kikitrade Completes $8 Mn Pre-Series A Funding
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Cryptocurrency social investment platform Kikitrade announced on Monday that the company has completed Pre-Series A funding of $8 million, co-led by Dragonfly Capital, Cherubic Ventures, and Animoca Brands who also joined the board of the company.
By providing a user-friendly, secure, and fun user experience, the company aims to attract millennials and everyday people to invest in crypto assets with ease, and contribute to the democratization of cryptocurrency in the long run.
"My singular goal with Kikitrade is to lower the entry barrier of crypto investment and provide everyday people with the necessary tools and knowledge required," said Allen Ng, co-founder, Kikitrade.
Kikitrade's solid and diverse team background is also a key consideration for the investors. The team comprises experienced engineers, hedge fund traders, investment bankers, and crypto enthusiasts with in-depth knowledge in both financial and blockchain industries.
"Attracting the millennials and Gen Z with first-class user experiences is an important trend in fintech. We like Kikitrade's strategies and look forward to driving the mass adoption of crypto together," shared Mia Deng, partner, Dragonfly Capital.
The company will also continue to optimize its existing trading system, enhance its educational content and create an easy-to-use Non-Fungible Tokens (NFT) and Decentralized Finance (DeFi) portal. Kikitrade is highly committed to becoming the best partner for mainstream investors in their forays into the crypto universe, the platform said.
"Kikitrade's professional team has both excellent product development capabilities and extensive marketing resources. We are very bullish on its future growth and the vision of driving crypto's mass adoption," remarked Tina Cheng, managing partner, Cherubic Ventures.
The compliant platform upholds a high standard on identity verification (KYC), anti-money laundering (AML), and asset segregation, striving for a secure and reliable crypto investment experience. To address the common misperception of the high costs associated with crypto, Kikitrade sets its minimum investment amount at $1.
Sean Tao, Co-founder, Kikitrade, has built and operated multiple social products for millennials before. A heavy gamer himself, Sean aims to integrate ‘social’ and ‘gaming’ elements into Kikitrade, enabling peer interaction and gamified experience.
In addition, Kikitrade provides crypto-based saving features and regular investment plans targeting beginners and long-term holders.
"NFT's are the standard for true digital property rights and the next development of the Metaverse requires easy-to-on-board financial services, and we believe Kikitrade could become an influential financial onboarding platform for collectors and gamers globally," added Yat Siu, chief executive officer, Animoca Brands.
Granted a Digital Asset Exchange Provider Qualification from the Australian government, Kikitrade has plans to apply or acquire more licenses in APAC. The investment proceeds will accelerate the user acquisition in the fast-growing APAC markets, including Taiwan, Southeast Asia, and Australia.