The crypto financial services provider revealed on Wednesday that the company has raised $300 million in a financing round.’s latest funding round follows the $120 million raise the company obtained last month. Is Now Valued at $5.2 Billion
On March 24, CEO Peter Smith announced that the company was pleased to announce a new Series C financing round. The company has raised $300 million from investors and’s post-money valuation has increased to $5.2 billion. Smith detailed on Wednesday that the funding stemmed from partners such as VY Capital, Yuri Milner’s DST Global, and Lightspeed Venture Partners. Smith said during the last year, the firm has seen colossal growth and now has 31 million verified users in 200 countries leveraging services.
“We’ve seen a 3x increase in active users over the past 12 months alone,” Smith detailed during the announcement. Smith said that the new financing round follows the company obtaining $120 million for strategic growth.
“While is highly profitable across each of our business lines (having surpassed all of 2020 contribution margin in the first 2 months of 2021),” Smith said. “We believe that our new partners, who have experience in supporting companies during times of hyper growth— are the perfect complement to our recent addition of some of the best macro investors like Louis Bacon and Kyle Bass. With the addition of Jim Messina to our Board of Directors, we aim to be ready to evolve into an industry-leading company and global brand,” the …
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