Estonia-based BITLEVEX, an investment platform, announced on Tuesday, August 23, that it has raised $50M (approximately €50M) in a fresh round of funding from Bahamas-based GEM Digital Limited.
GEM Digital Limited actively sources, constructs, and invests in utility tokens listed on over 30 centralised and decentralised exchanges globally.
The $3.4B alternative investing company currently has a presence in Paris, New York, and the Bahamas. It manages a variety of investment vehicles for emerging markets and has completed over 525 deals in 75 nations. Each investment vehicle has a different level of operational control, risk-adjusted return, and liquidity profile. Through the family of funds and investment vehicles, GEM and its partners have access to Small-Mid Cap management buyouts, private investments in public equities, and some venture investments.
Capital utilisation
BITLEVEX says that the funds will help it to scale its promotional strategies, expand its workforce, and build a diversified product selection as shown in its whitepaper. These include added features to their existing products, the launch of an NFT marketplace, a wallet service, merchant payment solutions, and their own crypto debit cards.
Speaking to Hackernoon about the funding, Mihails Skoblovs, founder of BITLEVEX, says, “Thanks to our partnership with GEM, we will be able to materialise our vision, driving attention to BITLEVEX and its products. Our scaling targets are aimed at increasing the decentralisation of our platform while educating a new generation of investors.”
He also stated that “in times of major uncertainty like we are experiencing right now, it is our responsibility to work harder and hire more.”
What does BITLEVEX offer?
Founded in 2019 by Mihails Skoblovs, BITLEVEX is an investment platform that focuses on cryptocurrency options trading and has built a community of 50,000+ registered users. Currently, the company is in the process of launching its native utility token BLEX.
Skoblov told Hackernoon, “Bear markets always refresh the industry by eliminating scams and greed. Smart investors know how to make money on both bear and bull markets. Using BITLEVEX’s trading tools, users can extract the most value from volatility even during a bear market.”
BITLEVEX aims to provide Web3-compliant financial education, goods, and services, as well as user-friendly onboarding to new cryptocurrency users. The company has begun developing a wide range of investment solutions that reward user engagement.
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