According to the official Vertex Medium account, the platform was able to secure $1.1 million in funds from private investors in Saudi Arabia. Vertex Market is a peer-to-peer marketplace available in most countries and supporting a wide variety of cryptocurrencies.
The platform was able to conduct a successful private fundraising that was initially valued at $2.2 million. The operation ended a couple of days ago and the $1.1 million raised will be used mostly for Marketing.
Vertex Is Looking For Users
According to the announcement, the team of Vertex is currently looking for more users and they have an initial target of around 250,000 active users by the end of the year.
The Vertex platform is already available in most countries and supports payment methods like SEPA transfer, Paypal or Revolut. The P2P Marketplace is fully functional and offers a few advantages over its competitors but they need more users.
That’s why Vertex is going to use most of the funds in Marketing operations and the growth of the platform.
Additionally, the team of Vertex also announced the introduction of a scam insurance system. The platform currently has 2 types of insurances, a wallet insurance system and trade insurance for the p2p marketplace.