Animoca-backed crypto startup nets $6m in funding

Hong Kong-based Kikitrade, a cryptocurrency and social investment platform, has raised US$6 million in a new funding round co-led by AppWorks and Media Asia. Investors including Audeo Ventures and existing shareholders also participated in the round.

Kikitrade co-founder Allen Ng / Photo credit: Kikitrade

Kikitrade has also partnered with Media Asia to launch a joint venture called Kiki NFT Platform. The venture will focus on helping creative industries integrate blockchain tech.

Kikitrade offers a cryptocurrency investment platform and an “interactive and educationable” in-app community with social and gaming elements.

The startup was founded in 2020 by Allen Ng, Everest Ventures Groups (EVG) co-founder and CEO, and Sean Tao, a partner at the EVG.

The funding follows Kikitrade’s US$12 million raise last year from Dragonfly Capital and Alan Howard. With the latest raise, it has raked in the past 12 months to US$18 million.

In October last year, Animoca Brands also became the second-largest shareholder in Kikitrade.

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Kikitrade plans to use the fresh capital to expand into new markets, including a wider Southeast Asia presence. It follows the company’s entry into the Middle East last year.

The startup also plans to expand its development team to 100 members. Its other objectives include recruiting key opinion leaders, media, and CEOs of cryptocurrency exchanges.