thecoinrise.com
Crypto exchange and token listing platform, CoinList has raised $100 million in its latest funding round. With the funding round, the firm has achieved unicorn status with a market valuation of $1.5 billion.
Per the announcement, the round was led by venture capitalists, Agman Partners, and Accomplice. Some of the others who participated in the funding round are Alphemy Capital, Continue Capital, CMT Digital, DFG Capital Management, Fenbushi Capital, GoldenTree Asset Management, and Metaplanet. Additionally, the founder and CEO of Agman, Scott Silverman, will join the board of CoinList.
“In this round, we focused on deepening relationships with our existing community rather than signing new venture capital,” said CoinList Chief Executive Officer Graham Jenkin. He also noted that most of the new investors were from Asia, Europe, and the Middle East where the firm has enjoyed the most growth.
How CoinList is Faring
CoinList provides a platform for crypto projects to list their tokens and raise funds from the public via token sales. Notable projects like Solana, Dapper Labs, and Filecoin have all used the platform. Last year, the firm started a crypto exchange, CoinList Pro, with custody and staking services.
Though founded in 2017, CoinList has experienced significant growth recently. In its last funding round led by Polychain in 2019, the firm raised $90 million. Subsequently, the company launched formal trading in July 2020 and has a monthly trading volume of up to $1 billion in 2021. Also, the company has over 5 million registered users and has facilitated more than $370 million in loans this year.
According to Jenkins, growth is traceable to the mainstream adoption of bitcoin and other crypto-assets. Likewise, there has also been a spike in the quality and quantity of new projects. Many of these crypto projects have gained unicorn status by raising over $1billion through their initial coin offering. Most recently, Candy Digital achieved unicorn status.
The new funds will be deployed to maintain the growth of the operation and scale its engineering systems. He also announced that the company will recruit more workers into its workforce as it seeks to scale its operations.
“We’ll continue to focus on helping crypto protocols rapidly innovate, build their communities, and drive adoption in the space through products like Governance and Karma.” Jenkins said.