Young, the Italian crypto exchange, opens second financing round
Undeterred by the pandemic, Young is implementing a series of operational developments
Young has opened a second round of financing based on a valuation of €10 million ($10.9 million).
It is the second capital increase after the pre-seed capital that was raised in the Alba area, Piedmont, as well as after the €750,000 ($820,000) that was raised via an equity crowdfunding campaign on Seedrs, the British crowdfunding platform, based on an evaluation of €8.5 million ($9.3 million).
Young is an Italian exchange that allows users to purchase euro cryptocurrency and invest in Gold through crypto-assets.
Simultaneously, the startup appointed a new Board of Directors. It is composed of company co-founder Andrea Ferrero, Mariano Giovanni, Carozzi and Alberto Bertagnolio Licio, who is the former CFO of Young.
Ferrero explained that they were the company that seized the opportunity to work on their operations in the midst of the difficult economic situation caused by the coronavirus.
“We have in fact opened a capital increase involving a number of prestigious Italian and international investors and appointed a Board of Directors whose objective is to institutionalize business and give more and more credibility to our sector.”
CMO and Head of International Expansion Diego D’Aquilio added that the company had also entered into several new partnerships with notable international companies in the blockchain world. He revealed that Young also supported Helperbit in a cryptocurrency fundraising campaign for the Italian Red Cross.
Young has also identified the Gitti and Partners Law Firm, as well as the notary Remo Maria Morone as the professional figures who are responsible for guiding the company in their path to becoming the first fully regulated cryptocurrency exchange from Italy.