Coinlist secures $100M to hit unicorn status at $1.5 billion valuation

2021-10-27 13:45

CoinList, one of the most trusted crypto listing platforms in the world, is now one of the crypto unicorns in a growing list of major milestones for crypto-centric companies and businesses.

The platform achieved the status after raising an additional $100 million in its series round, details shared in a press release published on 26 October show.

According to the firm’s statement, the financing brought its total valuation to over $1.5 billion, with expansion across the past year key to this growth.

Early backer Accomplice VC co-led the financing round with Agman Partners, with investments from a large group of firms that already have a strong relationship with CoinList.

“While we have some great U.S. investors, our new investors are mostly active users and partners in the regions where we are growing fastest – Asia, Europe, and the Middle East,” CEO Graham Jenkin said.

Among key participants were Alphemy Capital, CMT Capital, Taavet+Sten, Continue Capital, Fenbushi Capital and GoldenTree Asset Management.

Crypto adoption and market growth

Per the firm, monthly trading volume has averaged $1 billion in 2021, with active traders seeing an eightfold increase as trading pair available on the exchange rose from four to 67. The company has also seen huge demand for staking services as staked assets crossed $3 billion. The platform has overseen over $130 million rewarded to stakers.

Across its lending service, CoinList has accounted for loans worth more than $370 million split among multiple crypto assets.

According to the company, the $100 million funding will help it grow its ecosystem as it promotes the adoption of cryptocurrencies around the globe.

The funds will be used to scale operations, improve the customer support feature as well as be put into new products. CoinList also hopes the new capital injection will boost the company’s coffers towards governance and protocol security.

The post Coinlist secures $100M to hit unicorn status at $1.5 billion valuation appeared first on Coin Journal.

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