Morningstar Ventures, an investment company focused on crypto-assets and the blockchain tech sector, has announced its strategic acquisition of Coin.fyi, a widely-used portfolio-tracking app.
Coin.fyi provides an intuitive and user-friendly portfolio-tracker platform and news-aggregator service that was implemented by a team of remote application developers from Eastern Europe and the Bay Area.
Launched in 2017, Coin.fyi features a simple user-interface (UI) design as well as clear product positioning, which has helped the application gain considerable exposure during 2017–2018 with organic growth and almost no marketing required.
200K portfolios created, 30K unique monthly visitors
More than 200,000 portfolios have been created with the Coin.fyi application. Even though the founders of the initiative decided to focus on a few other products during the past few years, the Coin.fyi platform has still been able to attract more than 30.000 unique monthly visitors.
Morningstar Ventures’ team members had been using the Coin.fyi app for a number of years and when they found out that the Coin.fyi team was seeking out a potential acquisition deal, they decided to acquire their platform. Both teams will now be focused on further improving and expanding the app’s features and functionality.
Plans to add more functionality to portfolio tracker
“You don’t find products like coin.fyi every day; the team built an easy-to-use tool that users enjoy and return to use on a regular basis and that, in itself, is already a great achievement. With Morningstar Ventures’ acquisition of Coin.fyi, our endeavour is to turn the platform into more than just a portfolio tracker. The product perfectly fits into the ecosystem of products that we already own, as well those that we will be unveiling soon, so this is a really strategic acquisition for us,” stated Danilo S. Carlucci, the co-founder and chief information officer at Morningstar Ventures.
“I have been looking for the right company to hand over coin.fyi to for a while as it’s not easy to find people who are genuinely interested to continue what you started in the way you always imagined. I am very excited for our product to join the Morningstar Ventures’ ecosystem — our users are in safe hands!” added the core developer at Coin.fyi
