[Funding alert] Crypto startup Kassio raises $1.6M in pre-seed funding led by Aalto Capital

Crypto startup Kassio on Wednesday announced it has raised $1.6 million in a pre-seed funding round led by Aalto Capital. With the funds raised, the firm plans to expand its company in the Indian and European markets.

Kassio was launched in the year 2020 by co-founders Sachin Singh, Anuj Yadav, and Bharat Vivek with the goal of creating a platform that makes crypto transactions easier for everyone. The company also offers low-interest, immediate loans to its users. In exchange, users can use crypto they already own as collateral to claim the loan.

Sachin Singh CEO and co-founder of Kassio said, "This successful pre-seed funding round is a testimony to the strength of our project Kassio, its roadmap, offerings, and the innovation that brings together crypto investment and much-required crypto utility features".

The company offers a crypto card to its users and the card enables users to spend their cryptocurrency on a regular basis on various goods and products.

Shayan Khan Partner at Aalto Capital said, "While crypto is the next biggest equalizer after the internet revolution, Kassio, with its strong offerings, is a project that changes the whole dynamics of the community. I am confident that Kassio will be instrumental in providing quality crypto offerings to end-users and bring about the change that the world has been waiting for in this ecosystem."

The firm has secured a 16 million dollar AUM (Assets under Management) and a 9 million dollar loan portfolio. With the newly raised funds, the company intends to strengthen its product development process and expand its senior management team across legal, compliance, institutional relationships, and design functions.