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