Kikitrade Raises $12M for Asia Pacific Expansion, Brings in Strategic Investment from Hedge Fund Billionaire Alan Howard


Cryptocurrency investment platform Kikitrade today announced that it has received US$4 million in strategic funding from British hedge fund billionaire Alan Howard, underlining strong investor appetite in Asia’s upsurging digital asset market.

Alan Howard’s backing came shortly after Kikitrade closed its US$8 million pre-series A funding round in April, joined by a group of eminent international investors including Sequoia-affiliated Dragonfly Capital, blockchain gaming unicorn Animoca Brands and Ethereum co-founder Joseph Lubin. The extended round brought Kikitrade’s total capital raised to US$12 million.

Debuted in Q4 2020, Kikitrade has recorded a robust growth in 2021, with its total number of registered users doubling in the last two months. More than two-thirds of its users are millennials or Generation Z.

The fresh capital will be invested in continuous product innovation, compliance, and user acquisition across Asia – with an emphasis on Southeast AsiaAustraliaTaiwan, and Hong Kong – where cryptocurrencies’ penetration rates are significantly lower than that in the United States.

Allen Ng, co-founder of Kikitrade, said, “The strategic backing from Mr. Alan Howard, a legendary investor that my team and I look up to, gives us a great deal of confidence to continuously innovate and drive the mass adoption of digital assets.”

“Kikitrade has built an extremely user-friendly platform to enable adoption of digital assets among millennials and Gen Z users and we are very excited to partner with the team as they scale the platform in APAC,” said Alan Howard.


Crypto Platform Kikitrade Completes US$8M Pre-series A Funding


Cryptocurrency social investment platform Kikitrade today announced that the company has completed Pre-series A funding of USD 8 million, co-led by Dragonfly Capital, Cherubic Ventures and Animoca Brands who also joined the Board of the Company. By providing a user-friendly, secure and fun user experience, Kikitrade aims to attract the millennials and everyday people to invest in crypto assets with ease, and contribute to the democratization of cryptocurrency in the long run.

Renowned Investors Betting on Strong User and Team Traction 

The Pre-A series funding was co-led by Dragonfly Capital, a blockchain venture fund affiliated with Sequoia Capital, Cherubic Ventures, a venture capital that has invested six unicorns globally, and Animoca Brands, a blockchain gaming giant founded by tech legend Yat Siu. Other investors include Ethereum Co-founder Joseph Lubin and his new fund in stealth, Singaporean venture capital Vulpes, Super Chain Capital, Australian venture capital Artesian, Head & Shoulders X in Hong Kong, Chinese blockchain fund SNZ and more.

With profound experience in FinTech, Kikitrade Co-founder Allen Ng said, “My singular goal with Kikitrade is to lower the entry barrier of crypto investment and provide everyday people with the necessary tools and knowledge required.” Dragonfly Capital Partner Mia Deng said, “Attracting the millennials and Gen-Z with first-class user experiences is an important trend in FinTech. We like Kikitrade’s strategies and look forward to driving the mass adoption of crypto together.”

Kikitrade’s solid and diverse team background is also a key consideration for the investors. The team comprises experienced engineers, hedge fund traders, investment bankers and crypto enthusiasts with in-depth knowledge in both financial and blockchain industries. Cherubic Ventures Managing Partner Tina Cheng said, “Kikitrade’s professional team has both excellent product development capabilities and extensive marketing resources. We are very bullish on its future growth and the vision of driving crypto’s mass adoption”.

Enhancing “Social” and “Gaming” Elements for Millennials

Sean Tao, another Co-founder of Kikitrade, has built and operated multiple social products for millennials before. A heavy gamer himself, Sean aims to integrate “social” and “gaming” elements to Kikitrade, enabling peer interaction and gamified experience. Animoca Brands CEO Yat Siu said, “NFT’s are the standard for true digital property rights and the next development of the Metaverse requires easy to on-board financial services, and we believe Kikitrade could become an influential financial onboarding platform for collectors and gamers globally.”

Entering New APAC Markets and Introducing New Features

Granted a Digital Asset Exchange Provider Qualification from the Australian government, Kikitrade has plans to apply or acquire more licenses in APAC. The compliant platform upholds a high standard on identity verification (i.e KYC), anti-money laundering (i.e AML) and asset segregation, striving for a secure and reliable crypto investment experience. To address the common misperception of the high costs associated with crypto, Kikitrade sets its minimum investment amount at US$1. In addition, Kikitrade provides crypto-based saving features and regular investment plans targeting beginners and long-term holders.

The investment proceeds will accelerate the user acquisition in the fast growing APAC markets, including TaiwanSoutheast Asia and Australia. Kikitrade will also continue to optimize its existing trading system, enhance its educational content and create an easy-to-use Non-Fungible Tokens (NFT) and Decentralized Finance (DeFi) portal. Kikitrade is highly committed to becoming the best partner for mainstream investors in their forays into the crypto universe.