Coinmetro buys blockchain-enabled fundraising platform for €4m
Ignium enables SMEs to mint, design and self NFTs on its platform.
Digital currency exchange Coinmetro has acquired Ignium for €4m.
A fundraising platform for SMEs that leverages blockchain technology, Ignium says it aims to solve the “crowdfunding accessibility crisis”.
Back in 2021, Coinmetro itself raised $2.5m through the platform, just a few years after it was founded by CEO Kevin Murcko in Estonia with its own similar mission “to make finance accessible and transparent for people globally”.
According to Coinmetro, 60 million small businesses are currently unbanked because they are not being well served by traditional financial institutions.
“SMEs are enduring one crisis after another, from Covid, to inflation to a potential recession. They are also the type of business least catered for by traditional financial services,” Murcko said.
“SMEs however have a key asset: their highly engaged communities. This is particularly marked in the crypto sector.”
Ignium has a particular focus on enabling businesses to raise funds through NFTs on the blockchain.
According to Coinmetro, the acquisition will allow it to now include services in the securities market and it will develop the product to create “an active market for equity trading” for both its more than 150 shareholders and external companies.
“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,” Murcko added,
Coinmetro has currently acquired 71 per cent of Ignium’s shares and plans to acquire the rest of the company by the end of April.
“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,” Ignium CEO Reimo Hammerberg said.
“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.”
The company’s 4,000 registered users and its asset-issuing business clients have already been transferred to Coinmetro.