According to the official announcement, Vertex has recently raised $1.1 Million in funds from private investors. The peer-to-peer marketplace with support for multiple cryptocurrencies has conducted a successful fundraising a few days ago.
The funds were raised thanks to private investors from Saudi Arabia and will be used to grow the platform through Marketing.
According to Vertex CEO, the platform is looking to acquire around 250,000 active users by the end of 2020. Vertex’s goal is to become profitable within 1 year and is already preparing the next funding round.
Vertex CEO About Innovative Insurance Model
We had the pleasure to ask the CEO of Vertex a few questions about the platform and their unique insurance model. The official Vertex Medium account just published a detailed explanation of how the insurance works.
How is your insurance model better than others?
Vertex CEO: Our insurance model is fundamentally different from other platforms because it covers our users’ funds no matter what. Other platforms only allow users to claim insurance when the servers or funds are compromised inside the platform, however, if a user account gets hacked or is lost, most platforms will not cover that.
At Vertex, our users do not have to worry about losing their accounts or getting hacked as our Insurance model covers that too.
How is Vertex better than other marketplaces?
Vertex CEO: We know our platform is better because it has support for multiple cryptocurrencies and it’s available in more than 200 countries with more than 20 different payment methods available.
Our trading process is simple with low fees and a great customer support service. The addition of our insurance model reduces the risk to 0.
What’s next for Vertex?
Vertex CEO: We still have a lot to do as our platform is still in beta. The next release will be crucial and based on user feedback. Once that’s done, we will focus on marketing the platform and acquiring more users.
We intend to become one of the best crypto companies in the world and we are confident we can achieve this goal in the near future.