Italian crypto startup Young gets capital injection

Young​, an Italian fintech startup active in the cryptocurrency sector, announces the opening of a new capital injection and the appointment of the Board of Directors, despite the difficult moment due to the COVID-19 emergency.

Only 5 months after the launch of the Young Platform exchange the company based in Turin and with an office in London, has recorded a significant growth both in terms of registered users and volumes transacted, in a market such as that of Bitcoin and cryptocurrency, which seems to be reacting positively to the current financial crisis.

“In this challenging worldwide economic situation we decided not to stop but to react by announcing two important new operations”, says Andrea Ferrero CEO & Co-Founder at Young. “We have in fact opened a capital injection involving a number of highly prestigious Italian and international investors and appointed a Board of Directors whose objective is to institutionalize the company and give more and more credibility to our sector”, concludes Ferrero.

In addition to Ferrero himself, the new Board of Directors is composed of Mariano Giovanni Carozzi and Alberto Bertagnolio Licio, formerly Young’s CFO.

Carozzi has decades of experience in the banking world (first in Banca Sella and then in Banca Profilo) and for several years he has been personally involved in the evolution of the Italian fintech world (having founded Prestiamoci and having been Chairman of Tinaba).

“I decided to embrace the project because I strongly believe in its team and in the further growth of this sector, a growth which we will witness in the coming years and of which Young will be the absolute protagonist”, says Carozzi.

The company has also identified in the law firm “Gitti and Partners” (specifically in Prof. Gregorio Gitti) and in the notary Remo Maria Morone the professional figures who will guide it in the coming months in a path with the ultimate goal of making Young Platform the first fully regulated Italian cryptocurrency exchange.

This path began a few months ago with a collaboration agreement on Anti-Money Laundering with Netech and with the subsequent inclusion within the company structure of Ettore Valsecchi as AML Manager (who has thirty years of experience in the sector and who collaborates on these issues with the most important Italian financial institutions) and with the appointment of Alessandro Perillo as Internal AML Manager.

“In these last, difficult weeks, Young has established new partnerships with some of the most important international companies in the blockchain market (among which the partnerships with Maker DAO and Paxos) and supported Helperbit in a cryptocurrency fundraising campaign in favor of the Italian Red Cross, confirming the fact that, a few days after the Bitcoin halving, the international crypto ecosystem is buzzing and more active than ever”, says Diego D’Aquilio, Chief Marketing Officer and Head of International Expansion at Young. 

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