The backing comes from Luxembourg-based GEM, a $3.4 billion alternative investment group.
Crypto social investment platform Zignaly has signed a financing agreement worth up to $50 million with GEM Global Yield LLC SCS, a fund from $3.4 billion Luxembourg -based alternative investment group Global Emerging Markets (GEM).
“This financing from GEM will allow the company to propel significant new product development and global adoption of the Zignaly platform,so we can empower the masses with a vastly better way to invest,” said Zignaly CEO Bartolome Bordallo in the press release.
Zignaly offers actively managed investment services where users can invest with expert crypto traders and managed funds. Investors only pay a fee if they make a profit.
The company says the platform lowers the barriers to entry for investors wanting to add digital assets to their portfolios, while leaving the risky trading and decision making to expert traders and funds.
The Zignaly infrastructure supports sales and initial DEX offerings (IDOs) on a number of blockchains including Ethereum, Polygon, Solana, Avalanche and BNB Chain (formerly Binance Smart Chain), among others. The platform is backed by the native ZIG token.
Members of the Zignaly platform have invested more than $120 million in the portfolios of more than 300 traders and fund managers, according to the company.