We promised to take you, the CoinMetro community, on a journey as we build the future of finance together. Month-on-month growth targets were set. We built a plan for new products and releases. We told you we needed €2.5M to do it. And you put your trust in us.
Now, it’s time for us to share some insight on how we’ve been doing.
Accelerated by a very strong crypto market, our incredible community, and ever expanding product lineup, we’ve more than doubled revenue projections for Q1 2021, putting us comfortably on track to keep achieving targets through the rest of the financial year.
In just 1 year we’ve grown 100x! Yup, you read it right. We 100x’ed our revenue in just 12 months. And we’re just getting started 🙂
So, how did we get there?
Built On Trust
One of the reasons CoinMetro was founded in the first place was because Kevin Murcko, our founder and CEO, had had enough of the opaque, often shady world of forex. From day one, if you reach out to us with a problem, a person will see your message and respond.
Too many crypto-centric businesses choose to hide in the shadows, all the while holding the keys to their customers fortune. This, for us, is a part of traditional finance that deserves to die.
The message from CoinMetro is clear: We’re here for you. And to keep delivering that class-leading level of support we’ve been scaling our support team globally. Don’t just take our word for it though. We’re happy to let the numbers do the talking! CoinMetro is the highest ranked cryptocurrency exchange on TrustPilot, boasting an average score of 4.9/5.
And to really hammer home how important transparency is to all of us, Kevin, CoinMetro’s CEO, sits down, in front of a camera, and fields questions from customers. Not in some prebaked soundbites, or carefully manicured PR spin. It’s all raw, live and completely unscripted.
From company insights and product updates to his hot takes on wider topics, he’s happy to share. And, if that’s not enough you can hit him up directly in our Telegram channel.
Fuelled by XCM
The cryptosphere is booming, with exchange tokens riding green candles left and right. That’s not all though. You see, much of the overall attention has been focused on BTC, ETH, etc.
The usual suspects.
But there’s one token in particular that’s plotting a trajectory for the stars. Yup, you guessed it, our very own XCM has been booming. , putting the likes of Binance and Uniswap to shame by shattering the growth rates of these crypto Goliaths.
So, as the CoinMetro and XCM hype train has gained steam, so too has the customer base and revenues with it.
But XCM still has room to grow. Heaps of it.
Scaling the Team
It’s not just revenue and the customer base that’s been growing. Supporting all this growth means scaling up the teams responsible for developing, selling, supporting, and securing CoinMetro’s products.
Here’s what the man himself, CoinMetro’s CEO, Kevin Murcko, has to say about all of this:
“I’m immensely proud of the work the CoinMetro team has put in to get us where we are” said Kevin, “everyone is so passionate, so committed, and I think that is absolutely born out by these numbers”.
“No doubt though, we’ve still got some big milestones ahead of us. So to make sure we keep this pace up, we’ve already grown every department at CoinMetro, drawing on talent from around the crypto and wider finance world. 2021 is going to be a very big year for us” Kevin continued, with his trademark grin.
Incredible people are joining our team, with experts from the crypto, tech and startup field, and we’re on the ride of our lives together, building the future of finance.
Building the Future of Finance
The final part of CoinMetro’s 100x journey are the products. Back in 2020 we showed off a snapshot of our product roadmap, but since then we’ve been expanding the lineup, opening up new markets so CoinMetro can keep fuelling this unprecedented growth.
One of our group companies has recently been awarded an all-important E-Money Institution license from the Bank of Lithuania, paving the way for cards, direct debits, standing orders, and much more.
Our goal is to have CoinMetro as your one stop shop for all of your finance needs: Want to trade crypto? You got it! Want to invest in the hottest new startups and get paid interest on your investments? Absolutely! Want to pay your bills and go shopping using crypto? Yes!
Is that all?
Rocking Up Into the B2B Scene
The future of finance is not only for individuals.
We are also taking care of businesses. For instance, take the B2B “know your customer” sector that has emerged in recent years. Rather than buying “off the shelf” customer verification solutions, from providers like Veriff, we felt that building our own customer verification infrastructure made more business sense. And now CoinMetro can offer this to other businesses.
So, not only do we have control and security over our own product, we can also tap into a by offering our own B2B legal KYC and whitelabel verification services to other businesses.
MTF License Coming Up!
We are in the process of securing more funding with straight-to-equity deals. While looking to raise €1.5 million, we ended up with interest for over €3 million in additional funding! The €1.5 million required for the MTF license has been confirmed and we expect to see the rest finalized in the coming weeks.
What does this mean? An MTF license is an investment firm license to become a multilateral trading facility (MTF) which is a European self-regulated financial trading venue. This allows us to offer CFD’s, futures, options and the listings of equities and bonds of SME’s with market caps of lower than €200 million as well as a distributed ledger technology exemption which will allow us to settle their own securities transactions on DLT.
Think eToro but with actual customer service.
Impressed yet? Well the good news just keeps rolling in when you are working hard and really believe in your purpose.
We shall look forward to updating you in Q3 how we’ve exceeded Q2 targets 🙂
This content was originally published here.