Kikitrade Receives $12 Million in Fund From Billionaire Alan Howard
JUN. 10, 2021
The News Crypto
Kikitrade, an Asia-based cryptocurrency investment platform, raises total capital funds to $12 million. Besides, the platform receives $4 million in strategic funds from British hedge fund billionaire Alan Howard.
In April, Kikitrade closed an $8 million pre-series A funding round led by Sequoia-affiliated Dragonfly Capital, blockchain gaming unicorn Animoca Brands, and Ethereum co-founder Joseph Lubin. This bought a round capital fund of $12 million.
The firm plans to use the new funds for Asia pacific expansion, mainly focusing on Southeast Asia, Australia, Taiwan, and Hong Kong.
Moreover, Kikitrade was established in Q4 2020 and started recording its strong growth in 2021. In the past two months, the users are doubling where most accounts are Millennials or Generation Z.
Allen Ng Says About Kikitrade
Allen Ng, Co-founder of Kikitrade says that Alan Howard has become the strategic backer which gave them real confidence to deal and drive mass adoption of digital assets.
The company’s goal is to “be the gateway for everyday people to learn more about cryptocurrency in general and to participate in it with the least amount of friction”. Additionally, Ng feels that there is still a gap between mass awareness and mass adoption in cryptocurrency.
To succeed as an industry, though it is still in the beginning the firm has to go broader and beyond early adopters. Kikitrade aspires to be the most safer and user-friendly crypto investment platform for millennials and first-time investors.
According to Ng, the latest cryptocurrency market correction was a “healthy” one. It is necessary to have some adjustments for the market to grow and be more sustainable. He adds explaining that, “if the market is crazy, overheated, then you might have an even sharper drop that catches you off guard at some point.”