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HONG KONG, April 9, 2021 /PRNewswire/ -- Cryptocurrency social investment platform Kikitrade has announced the completion of Pre-series A funding of US$ 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, Kikitrade 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.
[caption id="" align="aligncenter" width="600"]Allen Ng, Co-founder of Kikitrade said his singular goal with the company is to lower the entry barrier of crypto investment and provide everyday people with the necessary tools and knowledge required. Allen Ng, Co-founder of Kikitrade said his singular goal with the company is to lower the entry barrier of crypto investment and provide everyday people with the necessary tools and knowledge required.[/caption]

Renowned Investors Betting on Strong User and Team Traction 

The Pre-A series funding was co-led by Dragonfly Capital, a blockchain venture fund affiliated with Sequoia Capital, Cherubic Ventures, a venture capital that has invested in six global unicorns, and Animoca Brands, a blockchain gaming giant founded by tech legend Yat Siu. Other investors include Ethereum Co-founder Joseph Lubin and his new fund in stealth, Singaporean venture capital Vulpes, Super Chain Capital, Australian venture capital Artesian, Head & Shoulders X in Hong Kong, Chinese blockchain fund SNZ and more. With profound experience in FinTech, Kikitrade Co-founder Allen Ng said, "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." Dragonfly Capital Partner Mia Deng said, "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." Kikitrade's diverse team background is also a key consideration for investors. The team comprises experienced engineers, hedge fund traders, investment bankers and crypto enthusiasts with in-depth knowledge in both financial and blockchain industries. Cherubic Ventures Managing Partner Tina Cheng 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". Enhancing "Social" and "Gaming" Elements for Millennials Sean Tao, another Co-founder of Kikitrade, has built and operated multiple social products for millennials before. A heavy gamer himself, Sean aims to integrate "social" and "gaming" elements to Kikitrade, enabling peer interaction and gamified experience. Animoca Brands CEO Yat Siu said, "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." Entering New APAC Markets and Introducing New Features Granted a Digital Asset Exchange Provider Qualification from the Australian government, Kikitrade has plans to apply or acquire more licenses in APAC. The compliant platform upholds a high standard on identity verification (i.e KYC), anti-money laundering (i.e 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 US$1. In addition, Kikitrade provides crypto-based saving features and regular investment plans targeting beginners and long-term holders. The investment proceeds will accelerate the user acquisition in the fast growing APAC markets, including Taiwan, Southeast Asia and Australia. Kikitrade 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.

By PR Newswire

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