The Zurich-based start-up EnsoFinance has raised a total of 5 million US dollars from investors. The company was only founded in February and now intends to launch its platform in the near future. For this, EnsoFinance plans to repurpose the structure of social media channels for the financial industry, as detailed in an article published on startupticker.ch.
In this way, users of the platform, which will be based on the Ethereum blockchain system, will be able to follow investors and subscribe to their strategies, for example. This form of social trading should allow meta-strategies to be developed in addition to offering the option of combining strategies together. Users of the EnsoFinance platform will be able to invest in Ethereum standard ERC-20 tokens.
The investment round was led by Polychain Capital und Dfinity Beacon Fund. Moreover, additional investors and angel investors also bought into EnsoFinance during this process. The Zurich-based start-up now plans to launch its platform and expand its own community.