[Eng] Fintech in Estonia

Fintech has been interesting of Estonians for a long time including cryptocurrency. If you remember not long ago I talked about Estonian Bank is doing research about cryptocurrency. Now new tool you can use if you are located in EEA.

The story told by start-up founder: the idea to establish Change originated in Singapore

https://www.changeinvest.com/

Asked how the founder of Kangrol came up with this business idea, he said that he works for a long time in a venture capital firm in Singapore. “There I saw how difficult it is for an ordinary person to invest with a good return, because small investors often do not have access to more capital. There were no good and convenient solutions for small investors at that time. Investment apps were already more popular, but 5-10% of teenagers often had to pay for the first 10-euro investment, which is, of course, a low-investment demotive and is often abandoned when starting to invest. This is how we reached the development of our platform, where you can invest cheaply, quickly and conveniently, ”said Kangro.

Kangro adds that the Edit platform can be used to buy and sell Bitcoin cryptocurrencies free of charge, as well as trade in the world’s most popular cryptocurrencies and at competitive prices. The platform is also unique in the possibility to conveniently transfer your Bitcoin to Change’s VISA debit card and pay in euros in regular stores. Change VISA debit card process to 40 million locations worldwide. To date, the Change Investment application has been downloaded more than 115,000 times in 31 countries. For more than 60,000 people, their platform has more than 3,000 accounts and daily active customers.

The Estonian company has a lot of users from Change in Estonia, but almost as many Kangro users are also from Southern European countries such as Spain, Portugal and Italy.

As the investment landscape is regulated, today, due to regulation, it is possible to change the clients who accept the EEA, ie the region of the European Economic Area. It currently includes Great Britain. Kangro currently has this part of the company’s strategy of choosing not to extend its license to other markets.

Read more on Äripäev’s website:
https://www.aripaev.ee/sisuturundus/2020/11/23/hansapank-20-turuvaartus-funderbeami-platvormil-juba-ule-30-miljoni-eur

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