Bitcoin exchange FalconX raised $210 million at a valuation of $3.75 billion
Institutional-oriented cryptocurrency exchange FalconX has raised $210m in investment in a Series C funding round. The company's market valuation has reached $3.75bn.
30X Revenue Growth. Coverage across all key assets. Purpose-built for institutions. Read our $210M Series C announcement here: https://blog.falconx.io/fundraise/
The round was led by Altimeter Capital, Sapphire Ventures, B Capital Group and Tiger Global Management, with Mirae Asset and Amex Ventures as participants.
"As institutional investors continue to enter the cryptocurrency market, FalconX has significantly expanded its business and product lines to meet their needs. We are pleased to double down on the leading one-stop-shop for institutional trading, lending and clearing," said Tiger Global partner Scott Schleifer.
FalconX will use the funds raised to launch new products, explore strategic acquisitions and hire new employees, including key executives.
Recall that in May 2020, the exchange raised $17m from a group of investors including Coinbase Ventures and Avon Ventures, a venture capital fund associated with FMR LLC, the parent company of Fidelity Investments.
In December, the venture capital arm of payments giant American Express invested in the platform.
In March 2021, FalconX received a $50 million investment from Tiger Global and B Capital Group.