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Topic: [INVESDOR] Bittiraha.fi - Bitcoin services since 2012 - page 4. (Read 5601 times)

legendary
Activity: 2184
Merit: 1056
Affordable Physical Bitcoins - Denarium.com
I saw a video about Bittiraha on the front page of /r/bitcoin the other day. While I'm in no place to doubt their claims of being a legitimate company since year 2012, I can't help but ask why a company working for that long would ask for 150.000 - 500.000 € in crowdfunding out of the blue.
We've had solid funding from our income almost from day 1. We had a smaller funding round (105 000 €) a year ago to boost our operations and we actually received most of the funding in bitcoins directly.

However we don't have enough income to pursue growth in the way we'd like. We have an excellent team but most of our developers are half-time because we can't afford to have them full-time. With the funding we can actually pursue the projects that could allow us to compete in the bigger arenas.

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Why crowdfunding instead of private funding? Where are more details about this? What are those shares?
Our first funding round in early 2014 was a private funding round. This time we decided crowdfunding is the best way to go, for 2 reasons. First, we have a large network of customers and users. Over 20 000 Finnish people have used our exchange services and our website is also the #1 news, blogs & forum portal for the Finnish Bitcoin community.

In addition we believe that the crowdfunding round itself can give us even more visibility, not only in Finland but elsewhere as well. Some of our upcoming products are fully international which means we want to get more visibility outside of Finland.
legendary
Activity: 2422
Merit: 1451
Leading Crypto Sports Betting & Casino Platform
I saw a video about Bittiraha on the front page of /r/bitcoin the other day. While I'm in no place to doubt their claims of being a legitimate company since year 2012, I can't help but ask why a company working for that long would ask for 150.000 - 500.000 € in crowdfunding out of the blue.

The questions this move sparks are many actually.

Why crowdfunding instead of private funding? Where are more details about this? What are those shares?
legendary
Activity: 2184
Merit: 1056
Affordable Physical Bitcoins - Denarium.com
I represent Bittiraha.fi which is the leading Bitcoin service provider in the Finnish market. We are running an open funding round at Invesdor which is a Nordic crowdfunding platform.

We have a short pitch video which is a good start: https://www.youtube.com/watch?v=IFT-lwX410Q

The detailed pitch can be seen by registering to Invesdor website: https://www.invesdor.com/finland/en/pitches/427?token=f30988c60e9a202e6398a5e9f14c6d76. Registration does not cost anything nor does it have any obligations.

Basic facts of the funding round

- We are looking for a funding of at least 150 000 € and at most 500 000 €.
- Valuation is set at 2 750 000 € pre-funding.

Investment Proposal Summary

• Company
◦ Pioneer Bitcoin company from Finland, in operation since 2012
◦ Core development team working with bitcoin since 2011
◦ Strong growth from 2012 to 2015
◦ Processed EUR 20 million in transactions to date
◦ Current monthly transaction volume approximately EUR 1 million
◦ 20 000 unique customers, over 65 000 processed orders
◦ Long term partnerships with some of the largest companies in bitcoin
ecosystem
◦ Pipeline of high value business lines and innovations to support future
growth

• Market globally
◦ PE investments by the end of 2014 USD 433 million
◦ Largest PE investments to bitcoin companies have been USD 20-30
million
◦ 361 ATM in operation, 750 forecasted by the end of 2015
◦ Over 80 000 merchants accepting bitcoin
◦ Finland has a clear regulatory environment on bitcoin

• Business lines
◦ Bitcoin brokerage – largest volume in Finland
◦ Bitcoin ATMs – largest ATM network in the Nordics
◦ Bill payment gateway – largest volume in Finland
◦ Bitcoin salary gateway and integration to HR software
◦ Online store for security products

• New business pipeline
◦ Remittance
◦ Physical Bitcoins
◦ Offline transaction processing
◦ Secure storage / offline vault
◦ Bitcoin ETF

• Investments
◦ Can be done in EUR (through Invesdor) or in bitcoin (directly)
◦ Minimum investment through Invesdor is 335 EUR (20 shares)
◦ Direct option (bitcoin) only for large investments (over 10k EUR)
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