Schibsted : invests in the cryptocurrency exchange platform Firi

Firi, the leading Scandinavian cryptocurrency trading platform, has made a new investment round of NOK 60 million led by Schibsted Ventures.

“We aspire to make the process of buying and selling cryptocurrency safe and easy for customers. We are particularly pleased to have Schibsted Ventures as a new investor now that Firi faces Scandinavian expansion. Together, we will be able to accelerate our growth and expansion to both Sweden and Denmark and continue to lead cryptocurrency trading in the countries.” Scandinavian,” says Thuc Hoang, CEO and co-founder of Firi.

With Schibsted Ventures being the largest investor, the private placement was NOK 60 million in a round that valued Firi at NOK 731 million up front.

“As investors with a strong focus on financial services, we are inevitably curious about cryptocurrency trading. We have been following Firi closely for a while and have been impressed by both the team, the growth, and the platform. The Nordic crypto market is growing rapidly and growing The company is well positioned to expand into more markets,” says Dan Ochterloney, executive vice president of Schibsted Financial Services & Ventures.

“The company sees the importance of making cryptocurrency investments safe and easy for Scandinavian clients, which is fundamental to us at Schibsted. We look forward to participating in the next phase of our growth journey,” continues Dan Ouchterlony, Executive Vice President.

In 2021, Firi increased its customer base from 12,000 to more than 125,000 certified clients who traded cryptocurrencies with nearly NOK 6 billion. Firi also launched a savings product where customers can create weekly or monthly withdrawals from their bank account which are converted into cryptocurrency.

According to a market survey conducted by the company, about 440,000 Norwegians have invested in cryptocurrencies and this trend is expected to continue in the future. As part of its growth ambition, the company is working to increase its workforce. In 2022, new, simple and sustainable products will also be launched.

“Our goal is to continue to be the leading cryptocurrency exchange in Scandinavia with the ambition to more than triple our client base by the end of 2022,” concludes Thuc Hoang.

For more information, please contact:

Thok Hwang, CEO of Firi
Email: thuc@firi.com Phone: +47450 53888

mats stogaard, Investment Manager Schibsted Ventures
Email: mats.staugaard@schibsted.com Phone: +47 99 72 67 28

About Ferry |www.firi.com

Firi is a cryptocurrency platform created in 2017 by technicians who wanted to create a cryptocurrency trading platform that would be easy, secure, and fully compatible. Firi has grown into a versatile team of over 60 employees headquartered in Aker Brygge, Oslo. With over 125,000 clients, Firi is the largest cryptocurrency trading platform in Scandinavia.

Our vision is to provide better services and financial opportunities to all. We provide easy, secure and attractive services. We are registered with the Financial Supervisory Authority (Finanstilsynet) as a service provider for the exchange and storage of cryptocurrency in Norway.

About Schibsted Ventures | www.schibsted.com

Schibsted Ventures invests in disruptive, scalable and innovative business models that create unique values ​​that aim to become a market leader. We help smart founders and winning teams create their products, scale their businesses internationally, and maximize growth to become market leaders. We are always on the lookout for disruptive, scalable and innovative business models that create unique value. Over the years we have made investments in companies such as Blocket, Prisjakt, Lendo, Bookis, Tibber and many more. We have also succeeded in expanding the range of concepts internationally.

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