Join today to get full access to our basics to advance crypto courses, exclusive insights, research & analysis.
Exchanges

FalconX raises $150M at a whopping $8B valuation

22 Jun 2022 : 12:04
2 min read
  • FalconX, the institutional-level digital asset platform, announced that it has closed a $150 million Series D round
  • The investment round, completed in early June, values FalconX at $8 billion
  • Despite the recent market volatility, it claims that there is still a significant demand for its services

FalconX, the institutional-level digital asset platform, announced that it has closed a $150 million Series D round.

FalconX more than doubles its valuation

The investment round, completed in early June, values FalconX at $8 billion, more than doubling its previous Series C round valuation of $3.75 billion. The funding round was led by Singaporean sovereign wealth fund GIC and Facebook’s Eduardo Saverin-backed B Capital Group. Other notable investors were Tiger Global Management, Adams Street, and Thoma Bravo.

“FalconX is one of the very few crypto prime brokerages who do not take on market risk, so we’re not in conflict with our clients and their trading strategies,” said Raghu Yarlagadda, CEO and founder, in the release. “In light of recent market conditions, this is extremely valuable to our clients who demand a reliable market infrastructure provider.”

What is FalconX?

Institutional investors access crypto strategies through the FalconX platform through a single interface. Additionally, it provides a solution to let banks and fintech companies sell cryptocurrency products. According to the firm, it onboarded a large number of customers during the first quarter of the year, contributing to its high valuation.

The latest investment round will help FalconX enable new markets for its institutional customers and provide new products as the firm believes that despite the recent market volatility, it claims that there is still a significant demand for its services from a broad spectrum of institutional clients.


About Author

Stan Colenbrander

More articles by this author

Stan is the head of news and podcast host at Cryptonary. He was formerly a member of the Cryptonary Pro community. In early 2021, he decided to drop out of journalism school at university to pursue journalism in real life and make an impact in the crypto space. . His areas of interest include the NFT industry, decentralised finance, and crypto start-ups.

Post a Comment

GET YOUR CRYPTO DAILY BRIEF

Delivered daily, straight to your inbox.