Wirex raised £1 million in just 90 minutes and on to a total of £3.7 million in its maiden crowdfunding campaign.

Nearly 7,000 investors from 94 countries supported the startup's mission to democratise access to cryptocurrency.

Having closed the crowdfunding 15 days early, the amount raised makes Wirex the best performing Crowdcube campaign by a crypto company in the platform's history.

A statement explained that the funding will help solidify Wirex’s plans in the coming months. As part of a product overhaul the business has already launched five new currencies in Eastern European countries, alongside the new multicurrency Mastercard and an upgrade of its rewards scheme.

The company also plans to diversify their user base, with launches in the US and Japan in the pipeline.

The product allows customers to buy, hold, exchange and sell multiple crypto and traditional currencies from one platform. It aims to bring cryptocurrency to a mainstream audience, as adoption rates continue to rise.

Co-founder and chief executive Pavel Matveev commented: “It’s great that our customers have had the opportunity to own a part of Wirex, and we can’t wait to share our upcoming successes with them.”

Wirex will open a waitlist for the European launch of its Mastercard debit card on 21 October.

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