Kristjan Kangro sold off nearly 300K of Change shares

The founder of Estonian crypto company Change Kristjan Kangro sold off nearly 300K (approximately 3,7%) of the company shares to Swiss private equity firm Andromeda Capital Partners Suisse. The amount of the deal is undisclosed. 

Before the deal, Kangro's company Kangro Pte Ltd. owned 3,81M shares. In March 2023, Andromeda Capital Partners Suisse invested €2M in Change and received, in exchange, 4,5% of the company (over 359K shares). Kristjan Kangro continues to be the largest shareholder of the crypto company. According to Kangro, it was a sale of strategic stakes. 

The startup was founded in 2016 by Kristjan Kangro. It is an application, that allows to invest in cryptocurrencies, stocks, and other assets. It offers an investor card to spend crypto or euros. Change is available in 30 countries.

Andromeda Capital Partners Suisse is owned by Estonian entrepreneur and cofounder of UK investment firm Tickmill Ingmar Mattus, who is also a Board member of Change.