Source: Klink Finance
Gamified digital asset platform Klink Finance announced it has raised $500,000 USD (£462k) in a pre-seed funding round to drive its product launch by the end of 2022.
The funding round was led by the Singapore-based venture capital firm Blockchain Founders Fund (BFF) with participation from top-tier private equity and venture capital firms UOB Venture Management, Signum Capital, TechMeetsTrader, and StartupGym. Klink Finance operates at the intersection of finance and blockchain technology, implementing gamification that enables better and recurring financial habits for its users.
With Klink Finance’s Beta launch set for late 2022, the platform's go-to-market prize-linked deposit account will reward users with the chance to win up to $1 million in USDC (stablecoin) every week, for holding funds as little as $25 USD. The solution provides alternative mechanisms to reward distribution across user populations and will expand further services with social features and digital asset ownership in a way that is safe, exciting and rewarding.
The team behind Klink Finance took their inspiration from the UK Government bond scheme known as Premium Prize Bonds, which has over 21 million participants and $130 billion USD held in assets under management (AUM) across the country. The introduction of Klink Finance’s platform into the market could have a massive positive impact. By offering a gamified prize-linked solution, all funds on the platform are aggregated together and the yield that is earned on all funds is distributed to users in the form of prizes through probability, which enables steady returns but also the chance for users to earn large returns every week.
Currently, the platform has mapped a product development phase that puts innovation front and center when it comes to user engagement approaches toward holding and growing wealth through digital assets.
Commenting on the pre-seed funding round, Chris James Murphy, Co-founder of Klink Finance, said:
“When it comes to retail asset management services we have a different way of approaching the market. Our team is on a mission to enable a new way in which wealth can be built and distributed amongst friends and communities over time.”
Commenting on the investment, Tobias Bauer, Principal of Blockchain Founders Fund added:
“We are proud to support Klink Finance in reimagining the gamified digital asset management experience. Their business model creates a dynamic impact on user engagement through gamification in the personal finance landscape.”