Estonian fintech Coinmetro acquires Ignium, deal’s value — €4M
15 February, 2023, 09:56
Tallinn-based fintech startup Coinmetro has announced the acquisition of Ignium, a blockchain-based fundraising platform for SMEs. The deal, valued at €4 million, will enable Coinmetro to develop an active market for equity trading, ArcticStartup reports.
- Founded in 2017 by Kevin Murcko, Coinmetro is a financial platform fueling the future of blockchain innovation. Through its tokenized ecosystem, the platform provides users with a gateway, allowing them to get involved in the crypto and wider fintech space with an ease of access unique in the industry.
- In November 2022, Coinmetro raised €7 million in a funding round, that brought the company’s valuation to €180 million. Back then, the round was aimed at scaling up operations across continental Europe, the UK, and the US. Now, the company has made its first acquisition.
- Founded in 2019, Ignium is a Web3 platform for small brands and businesses to monetize and engage their customers and communities. Basically, it allows SMEs to quickly and easily raise funds from their communities using non-fungible tokens.
“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. 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,”Reimo Hammerberg, Ignium co-founder and CEO, comments.
- As part of the deal, Coinmetro obtained 71% of Ignium’s shares for the value of €4 million. This will enable Coinmetro to develop an active market for equity trading while providing essential services in the securities market.
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