CheckSig: new €2.7 million funding round

The Italian fintech leader has closed a Series A round with a post-money valuation of €25 million. With continued triple-digit growth, CheckSig is looking to expand its services and markets, particularly to meet institutional demand.

Milan, 8 May 2024 - CheckSig, an Italian fintech specialized in bitcoin and crypto solutions for private and institutional investors, has closed a €2.7 million Series A investment round. In the context of investments’ contraction in the sector, also highlighted by the Fintech Observatory of the Politecnico di Milano, the result rewards the constant growth of the company. In fact, in 2023 compared to the previous year CheckSig recorded +154% in revenues, +165% in customers and +333% in assets under custody, exceeding €31 million. These results have been confirmed in the first quarter of 2024: compared to the same quarter of 2023, in fact, revenues grew by 300%, traded volumes by 200% and assets under custody exceeded €60 million.

Since its incorporation in October 2019, the company has raised a total of €5.1 million, reaching a post-money valuation of €25 million with this Series A. “This milestone confirms constant and gradual growth based on the solidity of our vision: investors have confidence in our strategy and our team,” said Ferdinando Ametrano, CEO of CheckSig.

The adoption of digital assets globally, combined with the MiCA regulation in the EU and the updating of tax regulations in various countries, opens up favorable scenarios for the Italian company. Michele Mandelli, managing partner of CheckSig, commented: “More than a million Italians have already invested in crypto, demand is growing strongly and the traditional financial system understands the importance of this asset class for customer portfolios. This is why we also launched CheckSig Clear, the technological infrastructure for financial intermediaries who want to offer simple and secure crypto services.”

Looking to the future, CheckSig aims to consolidate its positioning in Italy and expand abroad, starting from the Swiss market. “Internationalization and expansion of services are our growth guidelines for 2024-2025: we will soon announce important news” — concludes Ametrano — “Indeed, to support this program we keep discussing with institutional partners who strategically want to enter into our capital.”

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