Utorg cryptocurrency firm raises $5 million from Dragonfly

Utorg has completed a EUR 5 million financing round.. Estonian startup offers a fiat to crypto infrastructure . and will soon launch a ” superapp “.

Founded in Tallinn in 2020, Utorg developed a infrastructure permittingbuy cryptocurrencies such as Bitcoin with fiat currency and through a dozen payment methods. Your product can also be integrated into third party websites and applications in the form of widget.

At fintech launched and managed by Eugene Petrakov has just collected 5 million dollars as part of a financing round directed by the venture capital firm specializing in cryptocurrencies. Dragonfly. Other sponsors are TA Ventures and VC Hypra.

Utorg plans to launch a ” superapp “. The mobile application will offer numerous functionalities (automatic wallet, swaps, savings account, etc.) and, in particular, will be compatible with NFTs.

The funds raised by the financial technology company, which currently employs about 30 people, will go to. recruiting new talent and accelerate product development.

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