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Report: Crypto Financial Services Firm Matrixport Seeks $100 Million in Funding

News Feed - 2022-11-26 04:11:57

Report: Crypto Financial Services Firm Matrixport Seeks $100 Million in Funding


Crypto firm Matrixport Technologies is reportedly seeking $100 million in funding, according to people familiar with the matter. Sources detailed that the company already secured commitments from investors for roughly $50 million, which would give Matrixport a post-valuation of $1.5 billion. Matrixport Looks to Raise $100 Million From Strategic Investors


The digital asset firm and crypto lender Matrixport is targeting $100 million from strategic investors, according to a story first reported by Bloomberg. The Singapore outfit was founded in 2019 by billionaire and former Bitmain CEO Jihan Wu. The financial services company’s operations include crypto earn programs, lending products, and Ethereum 2.0 staking services.


Bloomberg’s sources say Matrixport has already gathered “commitments from lead investors for $50 million.” The report notes that Tiger Global and Dragonfly are some of Matrixport’s committed backers. With a $50 million capital raise, Matrixport’s overall valuation could jump to $1.5 billion.


Matrixport confirmed the company was engaging with investors and shared Bloomberg’s report on Twitter. “We’re excited and look forward to engaging with participants, on similar terms, in the other half of the funding round,” Matrixport tweeted. “Appreciate the trust and confidence our investors continue to have in Team Matrixport.”


The company raised $100 million in August 2021 in a Series C fundraising round and it became a unicorn company valued at $1 billion at the time. The round was led by DST Global, C Ventures, and K3 Ventures. As far as the new funding is concerned, Matrixport’s public relations lead Ross Gan said “Matrixport routinely engages with key stakeholders as part of its normal course of business.” Tags in this story $1.5 billion, $50 Million, 100 million, capital raises, Investors, Jihan Wu, Jihan Wu Matrixport, Market Cap, Matrixport, Matrixport capital raise, Ross Gan, Series C, Valuations


What do you think about Matrixport seeking $100 million in new financing? Let us know what you think about this subject in the comments section below. Jamie Redman


Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today. Prospects Don’t Look so Hot for Sam Bankman-Fried"s Invitation-Only Crypto Bahamas Event NEWS | 2 hours ago Binance Publishes Its Proof-of-Reserves System for Bitcoin Holdings, Additional Assets Coming Soon NEWS | 6 hours ago


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