Tiger Global Bitcoin Singapore city Dragonfly business Investments Tiger Global Bitcoin Singapore city Dragonfly

Crypto lender Matrixport seeks $100M funding despite lending crisis

Reading now: 192

Matrixport, the cryptocurrency firm founded by Bitmain co-founder Wu Jihan, is in the process of raising $100 million in funding despite the ongoing crypto market crisis.Lead investors have already committed $50 million for Matrixport’s new funding round at a $1.5 billion valuation, Bloomberg reported on Nov.

25. The deal has yet to be finalized as Matrixport is still looking for investors for the other half of the round.We're excited and look forward to engaging with participants, on similar terms, in the other half of the #funding round.Appreciate the trust and confidence our investors continue have in Team #Matrixport.@business https://t.co/DqQhsYucUyAccording to the company, the new round is part of Matrixport’s usual funding agenda. “Matrixport routinely engages with key stakeholders as part of its normal course of business, including investors keen to participate and enable our vision as a digital assets financial services provider,” the firm’s public relations head Ross Gan said.Matrixport’s new funding comes a year after the firm conducted a $100 million Series C funding round conducted in August 2021, becoming a unicorn with a $1 billion valuation.The fundraising was led by major global venture capital firms, including DST Global, C Ventures and K3 Ventures.

Other contributors in the round included major industry investors like Tiger Global, Qiming Venture Partners, CE Innovation Capital and A&T Capital, alongside existing investors like Polychain, Dragonfly Capital, Lightspeed, IDG Capital and others.According to Bloomberg data, Matrixport handles $5 billion of trades each month and has tens of billions of dollars of assets under management and custody.

Read more on cointelegraph.com
The website financemag.cash is an aggregator of news from open sources. The source is indicated at the beginning and at the end of the announcement. You can send a complaint on the news if you find it unreliable.

Related News