Group picture of the Firi team

Firi raises NOK 5M in a share issue led by Skyfall Ventures.

Øyvind Kvanes18/01/2021

We are pleased to announce that we have raised NOK 5M in a share issue led by Skyfall Ventures. We have a group of competent angel investors who will strengthen the company's further growth and development.

Angel investors

  • Bakken & Bæck Invest AS
  • Mads Johannesen (Investment Economist at Nordnet)
  • Eirik Rime (Founder and CEO of Tise)
  • Simon Ruud (CEO of The Factory Academy)
  • Sean Percival (Former Vice President of Marketing at MySpace, former CMO at Whereby, Partner at Spring Capital ÖU)
  • Alexander Svanevik (CEO of Nansen)
  • Nikolai Heum (Founder and CTO of Enode)
  • Henrik Langeland (Founder and CEO of Enode)
  • Fredrik Thomassen (Founder and CEO of Superside)

Key figures

  • Firi is Norway's largest trading venue for cryptocurrency and was the first trading venue to be registered with Finanstilsynet as a provider of exchange and storage services for virtual currency.
  • Over 10,000 registered users and 8,000 verified with BankID
  • 40% growth in the number of users in the last 30 days.
  • Over 60M NOK in volume in the last 30 days (200% increase from the previous period).

Quote from Espen Malmo, Managing Partner in Skyfall Ventures

We have invested in cryptocurrency and been involved in the ecosystem around blockchain technology alongside Skyfall since 2012, but it is only in 2020 that we have found good Norwegian companies that have met the investment mandate of Skyfall Ventures.

We recently invested in Nansen.ai, which provides a world-leading analysis tool for blockchain data, and now we are investing in Firi.
Firi is clearly the leading Norwegian platform for buying and selling cryptocurrencies, built by exceptionally good technologists with deep expertise in blockchain technology that goes beyond anything else we have seen in the Nordic market so far.

We believe that blockchain technology represents the biggest paradigm shift since the Internet, as a complement to the traditional financial system, and at the same time we believe that cryptocurrency trading will take place under a securely regulated regime.

Quote from Thuc Tuan Hoang, CEO of Firi

Firi thinks it is very exciting to have Skyfall on the team - they have proven to be a leading VC that has extensive knowledge of blockchain technology and cryptocurrency.

We have now completed an oversubscribed issue, and we are confident that the investors we now have with us on the team will help lift Firi to the next level.

The company has experienced strong revenue growth and will use the capital from the issue for further growth in Norway, but also further expansion into the Nordic region in 2021.

Quote from Eirik Rime, gründer and CEO in Tise

I experience that Firi has done a lot right so far, and that they are very well positioned for an incredibly exciting journey ahead.

Quote from Sean Percival

After advising the Firi this year I’m happy to now enter on the ownership side. The team has demonstrated impressive growth and execution by already becoming the leading crypto exchange in Norway. For all Blockchain based technologies it’s still early days here in Scandinavia. However, Firi has the right foundation in place to help fuel its adoption even further.

About Firi

Firi's mission is to offer a secure and user-friendly platform that is an entrance portal into the digital financial system of the future.

We do this by using well-known services such as BankID and Vipps login, and put security and user-friendliness in the driver's seat.

The product is offered to regular users, but also companies that want to invest in cryptocurrency.

Firi was registered as a service provider for storage and exchange of cryptocurrencies in January 2019.

Read more about how to use Firi here.