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29/06/2021

Young Platform closes €3.5 million Series A funding round led by United Ventures

Startup

The investment will enable Young Platform to strengthen its technology platform, develop new products and consolidate its position as a point of reference for the new generation of investors in digital assets

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United Ventures SGR, the Italian venture capital firm specializing in investments in digital technologies, is the lead investor in the €3.5 million Series A round of Young Platform, the platform that simplifies access to the world of cryptocurrencies. A pool of selected Italian and international investors and business angels, including Ithaca Investments, Accel scout Luca Ascani, Max Ciociola, and Pietro Invernizzi, participated in the round led by United Ventures. 

Founded in 2018 by six Computer Science students from the University of Turin sharing a passion for blockchain technology since high school - Andrea Ferrero, Alexandru Stefan Gheban, Samuele Raimondo, Andrea Carollo, Marco Ciarmoli, and Daniele Rinaldi - Young Platform aims to simplify access to the world of cryptocurrencies through a hub of digital products that meet the needs of different segments of users, from beginners to experts, and an intense educational activity and dissemination of blockchain technology and its applications.

Andrea Ferrero, Co-Founder and CEO of Young Platform, commented: "We are thrilled and proud to undertake the beginning of the scale-up path with an exceptional partner like United Ventures and with the direct support of Massimiliano Magrini and Giulia Giovannini. I am sure that the path we have undertaken together will bring Young Platform to become the Italian market leader by the end of the year. We are still at the beginning of the crypto era, and we believe that with the support of this exceptional partner, Young Platform will be able to carve out, starting from the Italian market, an important role at the European and international level within the sector". 

In just three years the start-up, which is based at the I3P incubator of the Polytechnic University of Turin, has established itself as the most promising Italian company in the field of digital currencies, with a constantly growing community that now counts 300,000 total users. The investment aims to support the technological strengthening of the platform, the development of new products, the expansion of the organizational structure, and the consolidation of the crypto scene at the Italian and international levels through strategic partnerships. 

In addition to the educational theme, Young Platform's focus is on compliance. In fact, the company is working alongside regulators to actively participate in the evolution and consolidation of the crypto landscape in Italy. Founded to bring transparency, inclusion and education to the world of personal finance and digital assets, Young Platform will continue to develop new services related to cryptocurrencies and decentralised finance, while maintaining its community-driven identity, and focus on user education through user-friendly products.   

By welcoming the reference platform for the new generation of investors in digital currencies into its portfolio, United Ventures reaffirms a long-term investment strategy aimed at innovating and democratizing financial services through technology. To date, there are over 100 million cryptocurrency holders worldwide, and the market has entered a new phase, but the implementation of blockchain within financial applications has just begun

Massimiliano Magrini, Managing Partner of United Ventures, commented: "Blockchain technology and the cryptocurrency industry have reached a turning point. Financial education and compliance will be key to move to the next phase and give more and more people access to this evolving asset class that has so far been reserved for too narrow a circle of users. Young Platform's founders are among the most knowledgeable in Italy about the dynamics of this evolving market and have the ambition and skills necessary to bring the revolutionary vision of decentralized finance to the ground, building an enabling technology platform that can respond in a progressive way to the needs of users building and managing digital assets". 

Press review

"Italian crypto exchange Young Platform raises €3.5 million, aims to educate a new generation of investors" - Tech.eu

"Italy’s Young Platform nabs €3.5 million to simplify access to the world of cryptocurrencies" - EU-Startups

"Bitcoin, la startup torinese Young Platform vale 18,5 milioni: entra anche Luigi Berlusconi" - Il Corriere della Sera

"Round da 3,5 milioni per Young: la piattaforma per criptovalute vale 18,5 milioni" - Il Sole 24 Ore


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