Cryptocurrency Investment Platform, Revix after raising R58.5 Million Capital Funding, the company outline its planes to use their cash injection.
The firm is planning to create 30 jobs in South Africa while some of the money will go into building a new mobile app for the the platform.
Speaking for MyBroadband, Revix chief growth officer Michel Ollivier said roughly 50% of the funding will go directly into marketing and growing its investor base, 30% will go into hiring new personnel, and 20% will be set aside for regulatory and security enhancements.
The company’s CEO and founder Sean Sanders adds, “we want to empower everyday people to safely invest in emerging themes, technologies and asset classes in an effortless way.”
“We aim to blur the lines between investing in traditional asset classes, such as stocks, as well as the emerging alternative investment sectors, such as AI, biotech, 5G, eSports and cryptocurrencies,” Sanders explained.
Revix has created a platform that has the potential to break down the barriers to access within this alternative investing space,” says Jocelyn Weber, director of X-Labs and Berkeley’s Blockchain Xcelerator.
The company was also one of 11 selected FinTechs (out of 500 applicants) for Wave 2 of the Qatar FinTech Hub’s (QFTH) Incubator and Accelerator Programmes.