Public Backing for EU Blockchain Brands

Annabella Cornelly

It’s rather a challenging task to be one of the leading platforms in the crypto community. We know that here the level of rivalry and competition is very high and it takes lots of effort to become popular and famous. On the other hand, many essential changes happening to blockchain companies depend on them and their quality of services.

No doubt, they can strive to be better and provide their customers with a wider variety of features and options – this is what would attract even more participants and, in turn, improve the firm’s ratings.

Nowadays experts emphasize that private seed funds are not as generous as they used to be earlier – many see them dry up. More than that, professionals analyzing the European market and its trends claim that there, blockchain brands seem to be seeking public backing.

There is a blockchain startup in Slovakia that may serve as the key example of venture capital developments triggered by the pandemic. What the team does is offered to the states across central and Eastern Europe.

Severalreports from the most reliable news sources mention and describe the situation in greater detail to help the whole of the crypto world to see what is happening beyond their countries and continents. Venture funding in the greater part of the former Eastern bloc has reached one billion and six hundred million USD last year.

Of course, there is evidence that the uncertain situation during the recent pandemic and its consequences have negatively impacted the start-up sector. All the changes the virus brought have significantly affected all types of deals that were just beginning to develop and evolve.

Alftins Receives Support from Crowdberry

Slovak startups keep developing online platforms and their main mission is to create the right environment for trading digital assets. One such company is Alftins that has managed to secure funding from Crowdberry, a venture firm that is funded publicly.

The venture company’s representatives admit that they had previously missed out on a deal almost a year ago. However, it was able to secure more favorable terms this season. Richard Fetyko, the founder of Alftins announced that securing funding from the mentioned company was the way of lower ‘resistance’ when venture capital that is backed publicly seems to be moving toward the industry and helping the industry that had suffered from the pandemic.

Crowdberry’s partners are willing to affirm that there are a few newly established firms that will have no alternative but to tap such funds since private cash will be much more cautious due to COVID-19. Even though the current events feel and look pessimistic to some participants, market players are looking forward to seeing what might come next.

A relatively massive percentage of the capital that firms receive from venture capital that receives public backing comes from the European Investment Fund. Professionals say that during crises, limited partnerships may decrease their desire for the asset class.

Also, in some instances, they may try to reconsider their current obligations and commitments. If so, then the public capital in the bloc is great for startups since the public source allows the funds to remain there. Many reports note that before the pandemic started, private funds were more attractive for startups emerging in the EU.