We raised $500k in Pre-Seed Funding Amid Expansion into UK Market

We are thrilled to announce that we recently closed our pre-seed round, raising over $500K.

The round was led by ff Venture Capital, with other participants including Pointer Capital and Marcin Wenus.

Since being founded in 2021, we have experienced tremendous success in Poland. Until now, our activities were bootstrapped, but that did not stop us from constantly improving the platform. This investment will allow us to penetrate the UK market using robust marketing campaigns and technical innovation.

The crypto market in the UK is the largest in Europe, with over 4.2 million current crypto asset holders. We began operating in the UK in Q4 2022 and now have an office there.

Ongoing growth despite market conditions

Since 2021, the number of users of our platform has increased 10-fold. Moreover, the ability to facilitate growth without funding and in times of global financial despair is a testament to our driven and hard-working team.

With this in mind, our user count will likely explode given its penetration into the UK market and the likely better market conditions ahead.

Our software has already achieved technical success greater than its long-established competitors, offering a reduced time for synchronisation with wallets and trading platforms of seconds up to two minutes, compared to its competitors, who average over 20 minutes.

Moving forwards, we are expanding our technical team to provide a broader range of features and integrations with external platforms and blockchains.

Based on our success up to now, we aim to achieve market leadership in Europe by 2025.

In a recent statement Mariusz Adamski, Partner at ff Venture Capital, said: “The number of global crypto and digital asset users recently passed 320 million according to Binance. Eventually, this number will reach billions. Each one of those users has to start reporting their tax liabilities, making an extraordinary market opportunity for Crpytiony’s automation tool. Early leadership is important in fast-growth markets, and this pre-seed round gives Cryptiony the means to build a strong position in Europe first.”

Solving tomorrow’s problems today

Although crypto adoption has grown dramatically in recent years to the point where 5.7% of people across Africa, Europe and North America own crypto, that does not necessarily mean everybody is doing their crypto taxes.

Yet, as adoption rises and governments clear up misconceptions and ambiguity surrounding crypto taxes, more and more people will require assistance calculating their cryptocurrency tax returns.

The average number of transactions coupled with the complex rules make manually calculating cryptocurrency tax unfeasible, so many crypto holders will be driven to cryptocurrency tax automation software.

With our technical superiority, success in the Polish market and recent fundraising for future growth, we are set to capture much of this new demand for cryptocurrency tax software.

“If crypto ever was part of a separate universe, it isn’t now. Tax authorities are treating trading profits just like any other capital gain, and taxpayers are waking up to the risk of non-compliance”, said co-founder and CEO Bartosz Milczarek. He continued: “It’s a big market already and, as web3 becomes mainstream, is going to get even bigger. The UK is our most important opportunity right now, and the new pre-seed funding enables us to grab that opening with a pricing model that is going to be hard to ignore.”

About ff Venture Capital

Operating out of New York City, ff Venture Capital is one of the best performing seed and early-stage venture capital fund which has created over $15 billion in market capitalization value. The firm is led by Partners John Frankel, Alex Katz, Oliver Mitchell, Mariusz Adamski and Maciej Skarul. Covering industries such as software, technology and AI, ff Venture Capital has invested in 140 companies and has created $3 billion in aggregated exit value.