Bitcoin Suisse Plans Expansion and Seeks Series a FundraisingAuthor: Ali RazaLast Updated: 17 May 2020 Swiss digital currency provider Bitcoin Suisse revealed it is looking to raise more than $51 million through a series of funding rounds. The Crypto Valley firm wants to sell a 20% stake in its BTCH Company to help raise funds. The funding round will begin from May 11 until mid-June.This will be the first time the firm is welcoming investment from professional and accredited investors since it was founded in 2013.According to the announcement, the firm intends to start receiving funding from investors with a minimum of $257,000 (CHF 250,000). Once the investor has invested this minimum amount, they will be entitled to full dividend and voting rights.Before the fundraising round was open for public participation, the crypto firm had already realized $20.6 million from friends and family.A former investment banker, Roger Studer, led the first funding to raise the initial $20,6 million.The firm currently has over $1 billion assets under custodyBitcoin Suisse, after its establishment in 2013 as a digital currency service company, started staking digital currencies and offered tokenization, lending, trading, brokerage, and custody services. Presently, the firm has more than $1 billion in assets under custody and 150 members of staff.The firm has always been upfront with plans of expansion. It demonstrated its plans to acquire a banking license in Liechtenstein and Switzerland. It began the process of acquiring a license in Switzerland in October last year, but the process is still ongoing.According to Arthur Vayloyan, chief executive officer of Bitcoin Suisse, as the firm is about making its transitions into a Swiss bank, the over CHF100 million equity of the firm offers a profitable and strong balance sheet. With the opening of the series A fundraising, it will further help the company accelerate growth and reach its potential.As a result, “It is the right move for the company, and it is an excellent opportunity for investors to join an extraordinary journey,” he said.Fundraising coming at a financially unstable periodThe fundraising for the expansion is coming at a time when the economy of many nations has contracted due to the COVID-19 pandemic. Many investors are currently wary of investing at this period, but Bitcoin Suisse said attracting investors would not be an issue for the firm.At this trying time, Arthur said Bitcoin Suisse would very well provide a chance to invest in something profitable. Last year, the firm had more than 2.5 million in profits from $21 million generated revenue. The profits would have been higher if the firm had not made several acquisitions and made several hires.The company is predicting that based on its current growth levels and the potential in the future, it can reach a valuation of about $1 billion before the end of 2025. The firm also plans to offer a security token (STO) next year and subsequently enlist on a stock exchange.