London-based Klink Finance is set to launch its first product by the end of 2022.
LONDON, Oct. 25, 2022 /PRNewswire/ — Klink Finance, a gamified digital asset platform has raised $500,000 USD (£462k) in a pre-seed funding round to drive its product launch by the end of 2022 led by the Singapore-based venture capital fund Blockchain Founders Fund (BFF) with participation from top-tier private equity and venture capital firms UOB Venture Management, Signum Capital, TechMeetsTrader, and StartupGym.
Klink Finance operates at the intersection of finance and blockchain technology, implementing gamification that enables better and recurring financial habits for its users. The team behind Klink Finance took their inspiration from the UK Government bond scheme known as Premium Prize Bonds, which has over 21 million participants and $130 billion USD held in assets under management (AUM) across the country. By offering a prize-linked savings solution, all funds on the platform will be aggregated and the yields earned are distributed to users as prizes through probability. This gives users steady returns as well as a chance to earn large returns every week.
With its beta launch set for later this year, the platform’s go-to-market prize-linked deposit account will allow users to win up to $1 million in USDC (stablecoin) every week for holding funds as little as $25 USD. This solution provides alternative mechanisms to reward distribution across user populations, and will expand further services with social features and digital asset ownership in a way that is safe, exciting and rewarding.
Currently, the platform has mapped a product development phase that puts innovation front and center when it comes to user engagement approaches toward holding and growing wealth through digital assets.
Chris Murphy, Founder of Klink Finance said, “When it comes to retail asset management services, we have a different way of approaching the market. Our team is on a mission to enable a new way in which wealth can be built and distributed amongst friends and communities over time.”
Tobias Bauer, Principal of Blockchain Founders Fund said, “We are proud to be supporting Klink in reimagining gamified yield generation experience. Their business model creates a dynamic impact on user engagement through gamification in the personal finance landscape.”
Klink Finance, founded by Chris James Murphy and Philip Jonitz, is a London-based startup that operates at the intersection of consumer finance and blockchain technology. The platform implements social gamification to enable better and recurring financial habits for user populations through a safe and regulated platform. For more information, please visit: https://www.klinkfinance.com/
Media contact:
Michiko Yuda
SOURCE Blockchain Founders Fund
