Estonian crypto startup Change raised €2M from Swiss fund Andromeda Capital

Estonian crypto startup Change Group raised €2M from Swiss fund Andromeda Capital Partners. The fund will get 4,5% of the startup’s shares. That is equivalent to over 359K shares of a crypto company. Andromeda’s founder Ingmar Mattus will also become Change's new board member. According to Andromeda, the fund has an interest in additional investing and acquiring more shares of Change.

The startup was founded in 2016 by Kristjan Kangro. It is an investment application, that allows users to invest in companies from 10 euros at a time and turn them into different currencies, gold, shares, crypto, and more.

The startup plans to use financing to increase profitability and grow further its community. Besides, the company will continue to support users who invest with small amounts of assets on the platform.

In November 2022, the company laid off a quarter of its employees due to an unexpected market situation and was looking to raise investment. After the announcement of this deal on investment platform Funderbeam, the shares of the company rose to 30 cents per share - nearly 58%.