Donut Crypto Investment App Managed To Raise $1.8 Million In Latest Funding Round

Donut-a crypto investment app provider successfully raised $1.8 million in a seed funding round and in today’s blockchain news we find out more about it.

The app provider is basically a German-based startup which explained that the funding round was initially started by early-stage venture capital company Redalpine. However, multiple investors included technology funds ventures such as EarlyBlock and Entrepreneur First, also Andy Chung and Philipp Moehring.

The startup explains its mission on the premise that by creating an accessible digital currency portfolio, the most important task will be accomplished and this means a higher level of attractiveness for retail investors but also the ability to finish the process much faster and simpler. The app is in beta testing currently and it is expected to be launched at the beginning of the summer.

Co-founder of Donut and CEO Neel Popat stated:

 “We believe most people will have the majority of their wealth stored in digital assets within the next decade. That could be anything from cryptocurrencies to fractional ownership of art or owning a piece of unique land in virtual reality. Our mission is to empower everyone to become an investor in that future.’’

Because the company is still in beta testing of its product, Popat explained that he cannot give any more details on the supported crypto assets or how high the fees will be yet. He did, however, explain that the target of the app is the first time crypto investors.

He said:

 “We want to make crypto investing more accessible for the average consumer and help them educate about investing, crypto and the underlying technologies.’’

The app will let users invest in various digital assets through a ‘’gamified user interface’’ which is also optimized for recurring all the small investing transactions. After the funding round, Dount is expected to grow especially in the development and engineering sector as well as create multiple other products and to start making strategic partnerships.

Donut board member Harald Nieder stated that despite the fact that digital currencies have many benefits, they still lack a single access point for holders in order to ‘’conveniently store, manage and transact.’’