TechFlow, May 28 — According to official news, on May 28, Swedish cryptocurrency brokerage K33 AB (publ) announced it has secured a funding agreement with major shareholders including Klein Group, Middelborg Invest, Tigergutt Invest, and Modiola AS, raising 60 million Swedish kronor (approximately $5.3 million) to launch its Bitcoin reserve strategy.
The financing consists of 15 million Swedish kronor through new share and warrant issuance, and 45 million Swedish kronor in interest-free convertible loans. Through the warrants, K33 also has the opportunity to raise an additional 75 million Swedish kronor. The company stated that all raised funds will be used exclusively to purchase Bitcoin, establishing its Bitcoin reserve strategy.
K33 CEO Torbjørn Bull Jenssen said: "We firmly believe Bitcoin will become an integral part of the global financial system. I am excited to begin building a strong balance sheet backed by Bitcoin—not only as an investment made with strong conviction, but more importantly, as a strategic driver for K33 as a leading cryptocurrency brokerage."
