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Utorg - Seed
Overview
About Utorg - Seed
Tallinn-headquartered Utorg has raised $5 million in seed funds to grow headcount and IP for its fiat currency-to-crypto "super app". The round is being led by digital assets VC Dragonfly alongside Kyiv/Frankfurt/US investor TA Ventures and Web3 VC fund Hypra. The seed funds will allow Utorg to bring in more IP licences, add to its headcount and look at new revenue generation channels.
Investors
| Investors | Type | Location | Year Founded | #Portfolio Companies | Email Address | Socials |
|---|---|---|---|---|---|---|
| Fund | United States of America | 2018 | 125 | info@dragonflycapitalpartners.com | ||
| Corporate | Germany | 2010 | 4 | info@taventures.vc | ||
| Fund | Portugal | 2022 | 3 | info@hypra.fund |
Founders & Team
Eugene Petrakov
Artem Barannyk
Company Profile / Project Introduction
UTORG is a FinTech company that offers а modern fiat to crypto exchange infrastructure to deliver а top-notch user experience. The company is EU-based and holds a license for providing a virtual currency service, in particular exchanging a virtual currency against a fiat currency, virtual currency wallet service, exchanging a virtual currency against a virtual currency. UTORG OÜ has PCI DSS Level 2 certification.
Utorg's super crypto app will debut before 2022-end. This Estonian contender is promising "modest" fees in what is a fairly competitive market, and says the money will provide its main source of revenue. Besides the price point, its app is slated to offer new features for digital asset power users, adding to Utorg's existing fiat-to-crypto exchange, which supports a variety of crypto coins and accepts fiat from 187+ countries.