Former Revolut Executives Starting Crypto App & Lift File Funding of $6.7M

[PRESS RELEASE – London, United Kingdom, September 16th, 2024]

3 former Revolut executives have introduced Neverless, an app providing commission-free crypto buying and selling along an automatic passive funding account, which goals to revolutionise returns for its customers.

Neverless’ group raised $6.7 million in one of the vital biggest pre-seed investment rounds in Eu historical past. Since upcoming, the corporate has registered in more than one Eu nations as a VASP (Digital Asset Provider Supplier).

“We’re going after all the platforms that exploit their users with fees.” Rita Riera, Director of Neverless Spain

Neverless lets in customers to shop for and promote cryptocurrencies with 0 reserve charges and nil buying and selling charges. The app is straightforward to significance and shall we customers reserve finances in Euros, a detail just lately discontinued through a number of main platforms. Moreover during the app, some cryptocurrencies generate day by day passion mechanically.

‘Strategies’: An Automatic Funding Account

Neverless do business in a market-neutral funding account known as Methods, which permits customers to speculate mechanically and with steadiness. Even supposing while efficiency doesn’t pledge age effects, Methods has a powerful monitor document, with a median 12.81% annualised go back within the while 90 days and a 11.89% reasonable go back over the utmost one year. Within the unstable international of cryptocurrencies, Methods goals to lend constant returns with out depending on marketplace fluctuations.

“Other platforms have similar products, but none offer the potential return or flexibility in terms of deposits and withdrawal as our ‘Strategies’ account.” says Riera.

Neverless do business in the similar doable returns to all customers, and not using a minimal reserve or lock-in classes. There’s no want for a ‘premium’ account to get admission to those returns, a detail that units it except for competition who steadily rate upper charges for top class tiers with higher returns.

The Era In the back of ‘Strategies’

Neverless makes use of market-neutral computerized methods. Generation this era has been hired through massive non-public funding finances, Neverless has made it obtainable to the community, and not using a minimal funding. In lieu of predicting age costs, an set of rules scans the marketplace in actual life to milk inefficiencies, comparable to minor value diversifications between exchanges. The Neverless set of rules buys cryptocurrencies at the less expensive trade and sells them at the dearer one, taking advantage of the excess. This procedure is accomplished tens of millions of instances according to 2d, producing solid returns with out publicity to marketplace route.

Hanging Neverless to the Take a look at

To ensure whether or not Neverless in reality fees 0 charges, merely habits the similar transaction on any other trade on the identical life.

In a single take a look at, a person bought $10,000 usefulness of Bitcoin on any other platform week doing the similar on Neverless. The end result: the alternative platform ended up giving 1.49% much less Bitcoin.

From Revolut to Neverless

Nearest serving to develop Revolut into a big fintech participant, the founders of Neverless recognized key problems in each the standard monetary machine and the crypto field. Shortage of transparency and prime charges are familiar issues they desire to do away with.

“Neverless was born out of personal frustration. There wasn’t an app that was transparent, user-friendly, and didn’t feel like a scam with hidden fees. Since it didn’t exist, it just had to be made.” explains Riera.

A good portion of Neverless’ construction group additionally drizzle from Revolut and is liable for construction the Methods set of rules, a product completely owned through Neverless.

Expansion and Past Plans

In only some months, Neverless has received 1000’s of customers and surpassed $100 Million in transaction quantity. With its registration as a VASP and its center of attention in key markets like Spain, France, and Eire, the corporate has already established a powerful foothold in Europe.

Now, Neverless is atmosphere its attractions on additional growth, aiming to take on the residue of Europe and Latin The united states nearest.

Its fast expansion and aspiring plans spotlight a cloudless resolution not to simplest reshape the crypto ground but in addition reserve a prominent place throughout world markets.

About Neverless

Neverless is the arena’s simplest crypto platform that permits to shop for & promote crypto totally fee-free and provides get admission to to computerized hedge charity funding gear that struggle to lend prime, solid returns. Based through former Revolut executives, it raised a document $6.7m pre-seed spherical and already holds Digital Asset Provider Supplier (VASP) registrations in more than one EU nations.