Crypto

Digital Asset Exchange Gemini Raises $400M Led By Morgan Creek

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New York based cryptocurrency startup Gemini has raised $400 million in its first external funding round led by Morgan Creek Digital, a hedge fund backed by Morgan Creek Capital Management. The round also witnessed participation from ParaFi Capital, 10T Holdings, Newflow Partners, United Talent Agency, Jane Street Capital, K5 Global, Pantera Capital, Marcy Venture Partners, VanEck, BoostVC and WndrCo.

Founded in 2014 by brothers Tyler and Cameron Winklevoss, Gemini is a next-generation cryptocurrency exchange and custodian that allows customers to buy, sell, and store digital assets.

Indian Crypto Exchange CoinSwitch Kuber Raises $260M; Achieves Unicorn Status

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Bengaluru based cryptocurrency startup CoinSwitch Kuber has raised $260 million in Series C funding round led by Andreessen Horowitz and Coinbase Ventures at a valuation of ~1.9 billion, making it the latest entrant to the expanding list of fintech unicorns in the country. The current round also witnessed participation from existing investors Tiger Global Management, Sequoia Capital India, Ribbit Capital and Paradigm. The four year old startup has raised over $300 million funding till date.

Founded in 2017 by Ashish Singhal, Govind Soni and Vimal Sagar Tiwari, CoinSwitch Kuber is a cryptocurrency exchange platform allowing its users to buy and sell cryptocurrencies.

Austrian Crypto Broker Bitpanda Raises $263M In Series C Round Led By Valar Ventures

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Vienna based crypto trading platform Bitpanda raised $263 million in Series C round led by Peter Thiel’s Valar Ventures, bringing the total amount of funds raised by the fintech startup to over $500 milion. The round also witnessed participation of new investors REDO Ventures and British billionaire hedge fund manager Alan Howard, along with existing investors LeadBlock Partners and Jump Capital. The Series C round valued the crypto startup a little north of $4 billion.

Founded in 2014 by Christian Trummer, Eric Demuth and Paul Klanschek, Bitpanda is a digital assets platform used to facilitate the buying and selling of cryptocurrencies.

Indian Crypto Startup CoinDCX Raises $90M In Series C Funding Round Led By B Capital

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Mumbai based crypto exchange CoinDCX has raised $90 million in Series C funding round led by B Capital Group, marking the startups’s entry into the fintech unicorn club and bringing the total amount of funds raised by it to $109 million. The funding round also witnessed participation from Polychain, Jump Capital, Block.one and Coinbase Ventures.

Founded in 2018 by Neeraj Khandelwal and Sumit Gupta, CoinDCX is a cryptocurrency exchange that specializes in crypto-enabled financial services.

Brazil Crypto Exchange Mercado Bitcoin Raises $200M From SoftBank

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São Paulo based Mercado Bitcoin, one of the largest bitcoin exchanges in Latin America, raised $200 million in a Series B funding round from SoftBank Latin America Ventures, valuing the startup’s parent comany 2TM Group at over $2 billion. Other investors in the crypto startup include Parallax Ventures and GP Investments.

Founded in 2013 by Gustavo Chamati and Mauricio Chamati, Mercado Bitcoin is a cryptocurrency exchange platform that allows people to trade cryptocurrency, digital assets, and other tokens.

Crypto Firm Amber Group Raises $100M in Series B Funding To Enter The Unicorn Club

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Hong Kong based Amber Group secured $100 million in Series B funding round led by China Renaissance Group at a valuation of $1 billion. Other investors in the round included Tiger Brokers, Tiger Global Management, Arena Holdings, Tru Arrow Partners, Sky9 Capital, DCM Ventures and Gobi Partners. The round also witnessed participation from existing investors Pantera Capital, Coinbase Ventures, Blockchain.com Ventures, Bit Digital, Digital Finance Group, Fenbushi Capital and Continue Capital among others.

Founded in 2017 by Luke Li, Michael Wu, Thomas Zhu, Tiantian Kullander, Tony He and Wayne Huo, Amber Group is a one-stop crypto finance service provider that provides liquidity provision, trading and asset management services.

Crypto Startup Circle Raises $440M

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Boston based payments startup Circle has raised $440 million in a funding round from leading institutional and strategic investors, bringing the total amount of funds raised to over $700 million. The latest investment round witnessed participation from Fidelity Management and Research Company, Marshall Wace, Willett Advisors, Intersection Fintech Ventures, Atlas Merchant Capital, Digital Currency Group, FTX, Breyer Capital, Valor Capital Group, Pillar VC, and Michael J. Price and Friends. 

Founded in 2013 by Jeremy Allaire and Sean Neville, Circle enables businesses to leverage stablecoins and public blockchains for payments, commerce and financial applications worldwide. The funding will accelerate growth of the company and enable market expansion opportunities. 

German Neobroker Trade Republic Raises $900M In Series C Funding Led By Sequoia

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Berlin based neobroker Trade Republic has secured $900 million in Series C funding led by Sequoia Capital, making it one of the largest fintch funding rounds in Germany. The funding round also witnessed participation from new investors Thrive Capital and TCV and as well as existing investors Project A Ventures, Creandum, Founders Fund and Accel. The funding was raised at an estimated valuation of $5 billion, bringing the total amount of funding to around $1 billion in the German startup.

Founded in 2015 by Christian Hecker, Marco Cancellieri and Thomas Pischke, Trade Republic is a mobile-only and commission-free broker similar to the US unicorn RobinHood, that provides investment opportunities to its users across stocks, ETFs, and derivatives.

Crypto Startup PolySign Raises $53M In Series B Led By Cowen

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New York based investment bank Cowen led the $53 million Series B funding round in PolySign, the Bay Area based digital asset infrastructure startup. Cowen invested $25 million and was joined in the funding round by London based crypto wallet provider and exchange Blockchain.com.

Cowen also announced that it will provide custody services for cryptocurrencies and other digital assets in partnership with Standard Custody & Trust, a unit of digital asset infrastructure firm PolySign.

Founded in 2018 by David Schwartz and Arthur Britto, who previously co-founded Ripple Labs, PolySign develops state-of-the-art, secure, scalable infrastructure for financial institutions to fully leverage their digital assets. 

Paxos Enters Fintech Unicorn Club With $300M Seried D Funding Round At $2.4B Valuation

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New York headquartered cryptocurrency startup Paxos raised $300 million in Series D funding round at a valuation of $2.4 billion. The round was led by Oak HC/FT and also witnessed participation of existing investors including PayPal Ventures, Declaration Partners and Senator Investment Group, bringing the total amount of funds raised by Paxos to over $535 million.

Founded in 2012 by Charles Cascarilla and Richmond Teo, the cryptocurrency startup has evolved into a regulated financial institution building infrastructure to enable movement between physical and digital assets.

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