Crypto Exchange platform CoinList today announced it has secured $100 million in a Series A funding round, increasing its valuation to $1.5 billion.
As per the announcement, the round saw participation from existing partners and users. The round was co-led by venture capital firm Accomplice VC and Agman.
The series A funding round also saw participation from other investors including Access Ventures, Alphemy Capital, Broadhaven Ventures, Continue Capital, CMT Digital, DFG, FBG Capital, and others.
The crypto exchange noted that a fresh round will be used to expand its existing community rather than welcome new venture capital.
“In this round, we focused on deepening relationships with our existing community rather than signing new venture capital. Our community is truly global,” CoinList CEO Graham Jenkin said.
Co-founded by Graham Jenkin, Brian Tubergen, Andy Bromberg and Joshua Slayton in 2017 and headquartered in San Francisco, the crypto exchange platform has seen significant growth in recent months.
According to the announcement, over the last year, its user base increased over 42 times worldwide. 36 times in Europe and 62 times in Asia. It currently has over 4.5 million users across 170 plus countries.
CoinList further noted that the latest raise is a watershed moment for its goal of driving crypto adoption.
“This represents a major milestone in our mission to accelerate the advancement and adoption of crypto,” CoinList said.
Crypto and Blockchain startups keep hitting billion-dollar valuations and setting new records. This has been made possible by investors who admire and have embraced the crypto and blockchain industry.
Two months ago, crypto exchange Bitpanda tripled its valuation by reaching a $4.1 billion valuation after a Series C funding round led by Valar Ventures, a US-based venture capital firm co-founded by tech billionaire Peter Thiel.
The funding round also saw participation from other investors including Alan Howard, REDO Ventures, LeadBlock Partners, and Jump Capital.
Just last week, cryptocurrency exchange FTX announced that it raised $420 Million in a new funding round that pushed its valuation to a whopping $25 billion.
