Prasos, a Finland-based cryptocurrency startup, has raised €2.5 million to boost its expansion plans and support the development of cryptocurrency investment services.

The company plans to use the funds for its expansion in Europe and further develop its exchange services to lower the barrier for traditional investors to enter the cryptocurrency market. It also has plans to develop a Cryptocurrency Investment fund in the future.

“We have a very positive view of the future of our sector and expected the round to be successful, but the reception that we received in the market exceeded all our expectations. We are very satisfied with the result and grateful for the confidence that all our investors have placed in us. Our company has challenging work ahead and this capital boost will help us to gain better results faster” Prasos CEO Henry Brade said in a statement.

According to the official release, the equity offering was launched on the Invesdor platform on November 9th was closed on 23rd of December – 12 days before the official closure date. Prasos offered up to 15% of its equity and achieved over 1000 new shareholders from Finland and abroad.

Prasos said that the current investment round was the last this type of phase in its plans as the next potential step is to get listed in the First North market place.