Young Platform secures an additional €2.65 million investment from Azimut

The €2.65 million capital injection “on top” from Azimut and the appointment of new president Nicolas Bertrand, a senior executive at Borsa Italiana and the London Stock Exchange.

Milan, September 16, 2024 – Azimut, a leading independent asset management group in Europe with over €95 billion in assets under management, has strengthened its support for Young Platform through an additional €2.65 million capital investment. This new funding is an extension of Azimut’s prior investment of €11 million in June 2022, when it led a €16 million funding round.

Young Platform, the Italian fintech scale-up focused on democratising access to the cryptocurrency space, now boasts over 2 million registered users. Known for its extensive range of crypto services, Young Platform is positioned as a leader in Italy and well-prepared to tackle new challenges and introduce innovative products.

As part of this new phase, Young Platform has appointed Nicolas Bertrand, a seasoned executive from Borsa Italiana and the London Stock Exchange Group (LSEG), as its new president. This addition to the leadership team aligns with the company’s commitment to regulatory alignment and sustainable growth.

Further strengthening its leadership, Alexandru Stefan Gheban, one of the company’s six co-founders and former CFO, has been appointed CEO, working alongside co-CEO Andrea Ferrero.

“Since 2018, each funding phase has progressively strengthened Young Platform’s operational capabilities and market presence, paving the way for ongoing innovation and expansion,” noted Andrea Ferrero. “With this new financial operation, we are pleased to receive renewed trust from an important partner like Azimut as we prepare to launch new products and services that will enable Young Platform to build the first Banking 3.0 platform. Our platform will be without borders, seamlessly blending elements of traditional finance (TradFi) with the innovative functionalities of decentralised finance (DeFi), helping to make global banking faster, cheaper, and simpler.”

Young Platform remains committed to adhering to regulatory standards, a company’s core value. The platform is registered with Italy’s OAM (Organismo Agenti e Mediatori Creditizi) and is authorised by France’s AMF (Autorité des Marchés Financiers). It also includes an in-house Anti-Money Laundering (AML) department. It aligns with the European Union’s new Market in Crypto-Asset (MiCA) regulations, which will be rolled out in the coming months.Azimut Holding CEO Giorgio Medda commented on the strategic significance of the investment: “Our investment in Young Platform aligns perfectly with our venture capital activities that aim to identify top-tier projects within emerging sectors.

Although cryptocurrency remains a complex field for many investors, it is essential to approach it with expertise, critical thinking, and a committed stance. Young Platform exemplifies these qualities, and we are confident that its team will continue to create innovative solutions that could positively impact the financial industry.”