Cryptocurrency trading platform CoinList has completed a Series A fundraiser of $ 100 million to fuel its global business expansion and bring its overall valuation to $ 1.5 billion.
The cash injection will help CoinList scale its business operations, support its community of early adopters and bring new product offerings to market, the company announced on Tuesday. The fundraising campaign was jointly led by the Accomplice and Agman venture funds, with additional participation from Fenbushi Capital, DFG, CMT Digital, FBG Capital and others.
CoinList has seen its user base grow 42x over the past year, highlighting the massive adoption of cryptocurrencies around the world.. The platform is intended to help investors gain access to new token projects before they appear on major exchanges such as Coinbase or Binance. The biggest growth drivers last year came from Turkey, Venezuela, Russia, Japan and the UK. The company currently has 4.5 million users in more than 170 countries.
In 2021, various cryptocurrency and blockchain-focused companies achieved coveted unicorn status, a term used to describe startups worth $ 1 billion or more.. The South American crypto exchanges Bitso and Mercado Bitcoin became members of the exclusive club earlier this year, while the derivatives platform FTX became a “Dekacorn” with a valuation of 18 billion US dollars. As Cointelegraph recently reported, NFT’s Candy Digital recently closed a $ 100 million Series A funding round, bringing the total valuation to $ 1.5 billion.
Venture funds have invested billions of dollars in crypto startups this year as smart money investors continue to support emerging projects that could reshape the global financial system. Earlier this year, Silicon Valley venture company Andreessen Horowitz announced that it had allocated $ 2.2 billion to fund emerging crypto projects. Last week, venture capital firm Galaxy Interactive confirmed it raised an additional $ 325 million from 70 investors to support new portfolio companies.