# Rand Network

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/rand-network

- Industry: Software
- Headquarters: Spain
- Website: www.rand.network
- Total disclosed funding: $3.3M
- Latest round: Seed (Apr 20, 2023)
- Investors on record: 7

## About

Rand Network is a financial technology firm that specializes in high-yield accounts, facilitating competitive interest rates for both individual and business customers through innovative blockchain services.Rand Network, founded in 2021 in Spain, operates as a financial technology company providing competitive high-yield accounts. The company has completed two deals, with the most recent funding round being a Seed round amounting to EUR 3.000 mn on April 20, 2023, led by StratMinds and supported by other investors including DFG Group, Farside Ventures, and Wayra. The founders, Marc Borrell, Pol Martin, and Rafael Escarré, have collectively contributed to the establishment and strategic direction of the company. Pol Martin currently serves as the CEO.Rand offers high-yield accounts tailored for both individual and business clients, with the Rand Earn Account allowing users to earn up to 6.50% APY through blockchain staking and lending. The account is designed for flexibility, enabling easy deposits and withdrawals without lock-up periods while ensuring daily interest payments, thus appealing to customers in several European countries, including Austria, Germany, France, Spain, and Sweden. The company emphasizes security and compliance, operating under the regulatory framework of the Bank of Spain.In 2023, Rand reported a revenue of EUR 2,505.4 mn, with an EBITDA amounting to EUR -1,174,232. Revenue is generated primarily through transaction fees from blockchain operations, which are reinvested into customer interest payments, supporting a commission-free structure for users.Following the Seed round in April 2023, Rand Network plans to utilize the EUR 3.000 mn funding to implement the initial growth phase for the first half of 2023, which includes enabling a personal IBAN for each user and launching new investment and savings products. The company aims to expand its presence in new geographic markets to enhance its service offerings and meet customer demand.

## Funding rounds

- Seed, Apr 20, 2023, $3.3M — Inveready Asset Management, Wayra, Primal Capital, JME Ventures, StratMinds, DFG Group, Farside Ventures

## Investors

- Inveready Asset Management (https://capitalatlas.ai/funds/inveready-asset-management) — Seed
- Wayra (https://capitalatlas.ai/funds/wayra) — Seed
- Primal Capital — Seed
- JME Ventures (https://capitalatlas.ai/funds/jme-ventures) — Seed
- StratMinds (https://capitalatlas.ai/funds/stratminds) — Seed
- DFG Group — Seed
- Farside Ventures — Seed