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DJ KR1 plc Investment Update: Argent Labs

 
TIDMKR1 
 
26 May 2020 
 
                                    KR1 plc 
 
                           ("KR1" or the "Company") 
 
                        Investment Update: Argent Labs 
 
KR1 plc (KR1:AQSE) is pleased to announce that Argent Labs ("Argent"), a simple 
and secure mobile crypto wallet and a portfolio company of KR1, has completed a 
successful USD $12 million 'Series A' fundraising round at a post-money 
valuation of USD $45 million, issuing 'Series A Shares' with liquidity 
preferences to new investors. The funding round was led by Paradigm and joined 
by existing investors such as Index Ventures and Creandum. 
 
Following the completion of the funding round, KR1 holds 'Ordinary Shares' 
representing a fully diluted ownership of 0.578% in Argent from the Company's 
participation in Argent's seed round. The post-money valuation of KR1's stake 
in Argent is USD $260,049. 
 
Argent is a simple and secure mobile crypto wallet that solves many of the 
issues of current crypto wallets, as it allows crypto to be sent as easily as a 
message to anyone, anywhere and also allows users to easily put their assets to 
work by staking or lending them out to earn a yield. Argent's 'DeFi in a tap' 
experience is the simplest and safest way to access all 'Decentralised Finance' 
(DeFi) products and services on Ethereum. There are already an impressive 
number of DeFi integrations in the award-winning app, which has seen fast user 
growth with over 17,000 wallet downloads to date. 
 
Itamar Lesuisse, Co-Founder of Argent, commented: 
 
"This is a big step in our mission to help people control and benefit from 
their digital assets and identity. Crypto is unfamiliar to many, so we've cut 
out all the complexity and built a mobile wallet as simple as Monzo or Revolut, 
if not easier. Argent lets anyone, anywhere access new economic opportunities, 
exchange value as easily as an email, and enjoy digital services without 
sacrificing their data. It's the next evolution of money and the internet and 
we couldn't be more excited for the journey ahead." 
 
Keld van Schreven, Managing Director and Co-Founder of KR1, commented: 
 
"Itamar and the founding team are proven entrepreneurs, who have previously 
scaled applications to tens of millions of users, so they know how to build for 
scale. Argent is building the best wallet in crypto to onboard the next 
billions of dollars and bring financial empowerment to millions of users 
through crypto. We are tremendously excited about what Argent has launched so 
far and for the road ahead." 
 
For further information please contact: 
 
KR1 PLC 
George McDonaugh                                        +44 (0)16 2467 6716 
Simon Nicol                                                    simon@KR1.io 
 
Peterhouse Capital Limited                         (AQSE Corporate Adviser) 
Mark Anwyl                                              +44 (0)20 7469 0930 
Allie Feuerlein 
 
Nominis Advisory Ltd                                           (PR Adviser) 
Angus Campbell                                                    pr@KR1.io 
 
About KR1 plc 
 
KR1 is a leading digital asset investment company supporting early-stage 
decentralised and open-source blockchain projects. Founded in 2016 and publicly 
traded in London (KR1:AQSE), KR1 has built a notable reputation for generating 
significant returns by investing in many key projects that are designed to 
power the decentralised platforms and protocols emerging to form new internet 
infrastructures. 
 
www.KR1.io 
 
Market Abuse Regulation (MAR) Disclosure 
 
The information contained within this announcement is deemed by the Company to 
constitute inside information as stipulated under the Market Abuse Regulation 
(EU) No. 596/2014. Upon the publication of this announcement via a Regulatory 
Information Service, this inside information is now considered to be in the 
public domain. 
 
 
 
END 
 

(END) Dow Jones Newswires

May 26, 2020 09:32 ET (13:32 GMT)