Celsius Network Reaches $17m Funding with BnkToTheFuture

More than 700 qualified investors have participated in its funding round since June.

Celsius Network, a crypto earning and lending company, recently announced that it has reached its extended goal of $17 million in funding thanks to its partnership with BnkToTheFuture, with more than 700 qualified investors participating in its funding round since June.

As Finance Magnates reported, the original funding goal was set at $15.0 million, however, the fundraising was extended following an “overwhelming demand from the community”, the company said in its statement on Wednesday.

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Whilst the financial services firm has now accomplished its extended funding goal, the company will leave the fundraising open on BnkToTheFuture. According to the statement, there are a further 200+ qualified investors that are still waiting to be onboarded. 

Alex Mashinsky CEO of Celsius Network
Alex Mashinsky, founder and CEO of Celsius.

Commenting on the fundraising, CEO Alex Mashinsky said in the statement: “We chose to fundraise in partnership with BnkToTheFuture because it gave us a unique opportunity to include our community in our early round of fundraising. 

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“We are honored that over 700 qualified investors have already put their faith in us, and are committed to keeping the raise open for as many more members of our community as possible. This is a natural step for Celsius which follows our 2018 ICO where over 1,500 users help fund the launch of our company.” 

Celsius Network funding round closes on July 26

The current round of fundraising will close on the 26th of July 2020. However, qualifying investors will still be able to invest a minimum of $1,000 to gain equity exposure in Celsius through BnkToTheFuture.

“Working together with Celsius we have been able to launch an innovative equity fundraising campaign that will enable Celsius to grow faster in disrupting the debt markets using crypto as collateral,” added BnktotheFuture CEO Simon Dixon in the statement.

“Over 700 investors are now equity holders in Celsius and we are happy to add them to our portfolio with others such as Kraken, BitFinex, BitStamp, Coinbase and many others that built our industry.”

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