Former Revolut Executives Launch Neverless, The Revolutionary Crypto App with $6.7M Funding
In a groundbreaking move, three former Revolut executives have unveiled Neverless, an app that offers commission-free crypto trading and an automated passive investment account with the potential to transform user returns.
Neverless has secured $6.7 million in funding, marking one of the largest pre-seed rounds in European history. The company has also obtained VASP registrations in multiple European countries, solidifying its presence in the market.
"We’re going after all the platforms that exploit their users with fees."- Rita Riera, Director of Neverless Spain
Neverless stands out by allowing users to trade cryptocurrencies with zero deposit and trading fees. The app supports Euro deposits, a feature not offered by many major platforms. Additionally, users can earn daily interest on some cryptocurrencies through the app.
‘Strategies’: An Automated Investment Account
Neverless introduces 'Strategies,' a market-neutral investment account that enables users to invest automatically and securely. Despite the disclaimer that past performance does not guarantee future results, Strategies has shown a strong track record with an average 12.81% annualized return in the past 90 days and an 11.89% average return over the last 12 months. This account aims to deliver consistent returns regardless of market fluctuations.
"Other platforms have similar products, but none offer the potential return or flexibility in terms of deposits and withdrawal as our ‘Strategies’ account." - Riera
Neverless offers equal potential returns to all users without any minimum deposit or lock-in periods. This feature distinguishes it from competitors who often require premium accounts for better returns and charge higher fees.
The Technology Behind ‘Strategies’
Neverless employs market-neutral automated strategies previously utilized by large private investment funds. The company has democratized this technology, making it accessible to the public without any minimum investment requirements. Instead of predicting future prices, an algorithm scans the market in real time to exploit inefficiencies and generate stable returns without being affected by market direction.
Verifying Zero Fees
To confirm Neverless' zero fee claim, users can conduct the same transaction simultaneously on another exchange. In a test, a user purchased $10,000 worth of Bitcoin on both Neverless and another platform, resulting in the other platform giving 1.49% less Bitcoin.
From Revolut to Neverless
Following their success at Revolut, the founders of Neverless identified common issues in the financial and crypto sectors, such as lack of transparency and high fees. Neverless was born out of the need for a transparent, user-friendly app that eliminates hidden fees and scams.
Growth and Future Plans
Within a short period, Neverless has attracted thousands of users and processed over $100 million in transactions. With its VASP registrations and focus on key European markets, the company is poised for further expansion into Europe and Latin America.
Neverless' rapid growth and ambitious goals demonstrate its commitment to reshaping the crypto landscape and establishing a strong global presence.
About Neverless
Neverless is a revolutionary crypto platform founded by former Revolut executives. It offers fee-free crypto trading and automated hedge fund investment tools for high, stable returns. The company raised $6.7 million in funding and has VASP registrations in multiple EU countries.
Contact
Rita Riera Pastalle
Director of Neverless Spain
rita@neverless.com