Coindirect, a Douglas, Isle of Man-based global cryptocurrency platform, raised €1m funding.
The round was led by Concentric, with participation from Blockchain.com, and MakerDAO.
The company intends to use the funds to further expand across Africa and Europe, supported by partnerships with Blockchain.com, MakerDAO and others being announced in the coming months.
Founded by Donald Jackson, Jesse Hemson-Struthers, Nicholas Haralambous and Stephen Young, Coindirect is an end-to-end cryptocurrency platform, which enables customers to trade cryptocurrencies like Bitcoin and Ethereum using their own local currency in the emerging markets, wherever they are using their mobile device or desktop browser.
It supports over 40 different cryptocurrencies at present, which is the largest offering in Africa. In the South African market, the company has acquired 40,000 registered users.