Estonian crypto exchange Coinmetro acquires social fundraising Platform Ignium

Estonian crypto exchange Coinmetro acquires Estonian blockchain-based social fundraising Platform Ignium. The amount of the deal is €4M.

Ignium is an Estonian platform allowing micro and small companies to raise funds from their communities by minting non-fungible tokens (NFTs) and issuing securities. Fundraising can be done through a website or social media. The startup was founded in Tallinn by Reimo Hammerberg.

Coinmetro is an Estonian digital asset exchange licensed in the European Union and registered in Australia, Canada, and the U.S. The startup was founded in Tallinn in 2017. Coinmetro includes a cryptocurrency exchange, a trading platform, and an ICO platform.

With this acquisition, Ignium’s 4000 users will be transferred to Coinmetro. Besides, Coinmetro aims to broaden its services to regulated securities offerings. The startup estimated that some 60 mln small enterprises can not use traditional financial services because banks are unable to fit their needs. Crypto Exchange Coinmetro plans to offer such small businesses new tools allowing them to raise funds directly from their communities by minting and issuing non-fungible tokens on the blockchain.