Cryptocurrency listing platform CoinList has completed a $ 100 million Series A fundraiser to fuel its global business expansion and bring its overall valuation to a whopping $ 1.5 billion.
The cash injection will help CoinList scale its business, support its community of early adopters and bring new product offerings to market, the company announced on Tuesday. The fundraising is carried out by venture capital funds with the participation of Fenbushi Capital, DFG, CMT Digital, FBG Capital …
CoinList has seen its user base grow 42-fold over the past year, underscoring the massive global adoption of the cryptocurrency. The platform is intended to help investors gain access to new token projects before they are listed on major exchanges such as Coinbase or Binance. The biggest sources of growth last year came from Turkey, Venezuela, Russia, Japan and the UK. The company now has 4.5 million users in more than 170 countries.
In 2021, a number of crypto and blockchain-oriented companies have achieved coveted unicorn status – a term used to describe startups valued at $ 1 billion or more. The South American crypto exchanges Bitso and Mercado Bitcoin both became members of the exclusive club earlier this year, while the derivatives platform FTX has become a “Dekacorn” with a valuation of 18 billion US dollars la. 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.
Related: CoinList Ethereum competitor is about to launch a $ 800 million developer fund as DeFi competition heats up
Venture capital funds have poured billions of dollars into crypto startups this year as crypto investors continue to support emerging projects that could reshape the financial system. Earlier this year, Silicon Valley venture capital firm 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.