Keza, a New York based investment startup, has unexpectedly announced the closing of its service. Founded in 2015 by Simon Burns and Stefan Britton, the company raised $357,000 and was backed by Digital Currency Group and Jason Calacanis of HOF Capital.

The company founders had plans to expand the services around the world. Bitcoin Magazine had earlier noted that the company stated on its website that the Keza portfolios are invested across global markets and different assets in order to ensure long-term returns across all market conditions.

The announcement of its closure comes as a surprise, particularly as Keza launched an iOS app last month that allows users to invest bitcoin in stocks and fixed income. There were no deposit minimums and the app facilitated investment in emerging markets restricted to investors who can reach a $1 million minimum.

The website now says:

“The Keza project is no longer moving forward, we appreciate all the feedback we have received from beta users.”

The reasons for shutting down of Keza remain unknown at the time of writing.