The UK-headquartered venture capital firm Coinsilium Group Ltd. has reported its latest financials for the six-month period ending June 30, 2018. The group has seen a notable uptick across its revenues and profits which took a massive step forward across a yearly basis.
This advance in financial metrics was attributed to developments internally, including the fees generated from its Token Sale Advisory Services, which quickly became revenue generative, and other channels.
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For its part, Coinsilium managed to report a stronger revenue for the first half of 2018, coming in at £1.33 million over the January-June period. This is 13 times more than the £98,000 it earned during the same period in 2017.Suggested articles
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While its revenues did not disappoint, the operating profits at the London-based company were also able to build on the company’s success during the half-year interval, supported by more investments in early-stage blockchain companies. Indeed, operating profit was reported at £554,605, up from a loss of £205,378 in the H1 2017.
Coinsilium was established in 2014, and its shares are traded on the NEX Exchange Growth Market. In December 2017 it raised £720,000 ($959,338) by selling eight million of them.
Examples of Coinsilium investments include €200,000 ($233,610) to SatoshiPay, a Berlin-based company that processes Bitcoin micropayments. The investment was made in January 2016, and in August 2017 the holding was sold for €725,220 ($847,017).
Coinsilium launched a consultancy service in 2017, through which it advised many clients. These clients have so far raised approximately $500 million by selling their tokens. Coinsilium has also set up a private fund in Gibraltar to manage all of its own tokens and to develop a token-based alternative funding solution.