Fintech scale-up BOTS raises €7.9 million

Fintech scale-up BOTS raises €7.9 million

Fintech scale-up BOTS raises €7.9 million

The fintech company BOTS by RevenYOU, based in Haarlem (NL), has raised €7.9 million in three crowdfunding rounds. Its current estimated value is €95 million.

Since its foundation in 2018, BOTS by RevenYOU has had two crowdfunding rounds. After the final round was closed on 31 January 2020, the fintech startup raised a total of €7.9 million against an estimated value of €95 million. BOTS attracts investments by itself, without intermediaries or banks. The shares are tradeable and can be purchased and sold by shareholders on a daily basis. Atthe current exchange rate, their total estimated value is €95 million.

By now, BOTS by RevenYOU has more than 1,400 active share certificate holders. “These shareholders bring along an enormous network. And because they are so actively involved, we are able to utilise their knowledge and expertise, giving us everything we need to develop the very best in the fields of technology, legal, marketing and so on.”

“Since the commercial launch of the BOTS app in May this year, we have proudly welcomed tens of thousands of active users. The best 20 bots achieved a return of no less than 22.35% and the best bot even achieved a return of 66.07%.” Michiel Stokman: “I am thankful for every user who tries out the BOTS app. It is anew product, a new market. People place so much trust in us by using our app totrade. It is truly amazing.”

“Of course, the most tense aspect was finding out whether the ‘robots’ really traded better,” adds Michiel Stokman. “Since the launch we have been seeing fine results. Bots depreciate less strongly when prices go down, and appreciate a little bit faster than average when prices go up. On average, the bots achieved a return of 11% in six months and the top 10 bots achieved an 18% return in six months. Our best bot even achieved a return of +100%, a huge milestone for us and our users.

“The BOTS app is now available in 18 other European countries. After the commercial launchhas taken place in all these countries, the fintech company aims to expand to 33 countries in 2021 and eventually roll out the BOTS app in 178 countries.

“BOTS by RevenYOU aims to make fair trading available worldwide, enabling all people to build up a second income. We do so by developing the most accessible and user-friendly platform for automated trading,” says Michiel Stokman, CEO and co-founder of BOTS by RevenYOU.

The bots in the BOTS app are in fact automated trading strategies built by expert developers. They incorporate algorithms, machine learning and artificial intelligence.

In view of this most recent crowdfunding round, as well as those to come, BOTS holds on to the dream of rapidly growing towards unicorn status and conquering the market. The founders aspire to join the ranks of Mollie, Adyen, Airbnb, Uber and Dropbox in the short term.

Besides that, the main objective is and remains to revolutionise the world of trading. It needs to become fairer, more transparent and more user-friendly. The founders say they do notunderstand why anybody in 2020 would want to trade without using smart technology. They consider ‘manual’ trading to be extremely risk.

Read more about BOTS by RevenYOU here.

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