Eligma Secures €4 Million Investment, Currently Valued at €50 Million
- The total funding amount that the startup has received so far now exceeds $22 million.
- In addition to regulatory compliance and business expansion, Eligma has also promised an improvement of the tokenomics of their native token.
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On the brink of another round of mass money printing, accompanied by $2,000 stimulus checks, many of which are likely going straight to Coinbase and Binance, the value storing capability of cryptocurrencies is definitely holding the spotlight.
That is not to say that using cryptocurrency as cash is a thing of the past. Slovenian startup Eligma has just been valued at €50 million in a fundraising round, gathering €4 million, in order to expand their cryptocurrency payment business. As for how the money will be utilised, the official announcement states:
The new investment round of 4M EUR at 50M EUR valuation is funded by Roger Ver through Bitcoin.com, and was mainly initiated due to our ongoing efforts to comply with any and all regulation as we have always been in this for the long run.
Roger Ver himself was quick to announce the news himself on Twitter.
This is Bitcoin.com’s second investment in the startup, after also participating in a venture round in 2019 alongside Swiss investment firm Pangea Blockchain Fund. They have used their reach to advertise the success of Eligma in promoting the use of cryptocurrencies as cash in the past:
The company also states that an improvement of the tokenomics of their GoC token is also in the works, as their native token will now also benefit from its connection to traditional payments, alongside cryptocurrency-based ones. Specifics are scarce for the time being, but the company has assured that more information will be “revealed in the upcoming weeks“.
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Kim Dotcom at the Moment of Truth event at the Auckland Town Hall in September 2013. Shutterstock
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