We are excited to have Pires Investments Plc on board and look forward to the growth of decentralised finance with the experience and network Pires brings to YOP.
LONDON (PRWEB) December 03, 2020
YOP is pleased to announce that it has agreed funding from an investment company listed on the London Stock Exchange, Pires Investments Plc. Pires took YOP through a rigorous due diligence and technical review process, which lasted over seven weeks. This was a much lengthier and detailed process than raising from crypto-only funds, who can often agree terms and successfully close within 24 hours. YOP was able to successfully illustrate the value in its strategy, team and robustness of its platform development to a specialist technology investor. YOP is proud to have achieved this validation that very few early stage crypto projects can achieve, and which will also give other investors in the project great confidence. Having a listed investment company involved as a cornerstone backer will help YOP differentiate themselves from other projects as it will have the best in class corporate governance and ongoing advice and support from Pires and its team.
Atif Yaqub, the founder of YOP, says, “We are excited to have Pires Investments Plc on board and look forward to the growth of decentralised finance with the experience and network Pires brings to YOP.”
YOP is also happy to announce that a number of senior advisors from the traditional markets have committed to support YOP as advisors and early stage investors, including Lesoza Enterprises, Barry Downes of Sure Valley Ventures and Brian Kinane of RiverFort Capital who YOP is very pleased to welcome to the team.
YOP welcomes Pires as its lead investor for its seed round. Pires is listed on the London Stock Exchange ($PIRI) and focuses on investment in next generation technology companies, which have potential for major transformation and exponential growth. They are active investors in IoT, Ai, Cyber Security & AR/VR. The recent surge in DeFi and with Bitcoin trading at new market cap highs, complemented with better fiat on-ramps via PayPal, is driving long-term, sustainable capital into the space. YOP believes that companies like Pires and more experienced investors will add long-term value to the crypto ecosystem as opposed to speculative bubbles.
Alongside Pires, YOP welcomes its lead crypto investor, Magnus Capital, which has been actively involved in YOP from the start. Magnus Capital has been investing in the digital asset market since 2012. It has had tremendous success in backing a variety of projects, and using its experienced network, it helped propel these projects to exponential growth. Magnus is active in decentralised finance applications, which it believes will play a critical role in the digital economies of the future. It has an appetite to seek out projects early on, investing in bright developers and founders alike.
As YOP completes its initial fundraising, it now looks forward to accelerating development and ship V0. YOP also moves to increase its community activity, marketing, and brand awareness. Post V0, YOP will review its plans to explore various options to raise further capital and accelerate growth. For now, YOP looks forward to deploying $YOP, the yPlatform, and yProtocol.
Yaqub adds, “We would like to thank everyone for the support to date and look forward to growing together.”