Young Platform, the Italian platform that aims to simplify access to the world of cryptocurrencies, has closed a series A round of 3.5 million euros, with United Ventures Sgr, a venture capital fund specialized in investments in digital technologies, as lead investor.
A pool of selected Italian and international investors and business angels participated in the round, including Ithaca Investments, an investment company chaired by Luigi Berlusconi, Luca Ascani as scout for Accel, Max Ciociola and Pietro Invernizzi. On the basis of the new Young round, € 18.5 million was valued.
A year ago, Young was valued at 10 million euros during a capital increase.
The entry into the portfolio of the platform that looks at the new generation of investors in digital currencies confirms United Ventures’ long-term investment strategy, aimed at innovating and democratizing financial services through technology.
To date, there are over 100 million cryptocurrency holders in the world and the market has entered a new phase, as demonstrated by Coinbase’s listing on the New York Stock Exchange with a record valuation of 85 billion dollars, but the implementation of the blockchain in the scope of financial applications is just beginning.