Crypto Accessibility Company 21.co Raises $25 Million
- 21.co recently announced that they raised $25 million. These are the details.
21.co recently announced that they raised $25 million.
Funding amount: 25 million dollars
Valuation: 2 billion dollars
Investors: Led by Marshall Wace and other investors in the round include Collab+Currency, Quiet Ventures, ETFS Capital and Valor Equity Partners
What does 21.co do: 21.co is a world leader in providing access to crypto through simple and user-friendly products
What the money will be used for: With this round of funding, 21.co will continue to drive rapid, targeted growth through premium products, key market expansions and strategic talent acquisitions.
Calculations: The company ended 2021 with a nine-figure revenue run rate and has had sustained inflows, even during down markets. And year-to-date, from September 2021 to September 2022, 21.co recorded over $650 million in net new assets, reaching its highest AUM of $3 billion in November 2021. To support this rapid business growth, 21.co employees grew at 75% in this period.
Basics: Launched in 2018, by Ophelia Snyder and Hany Rashwan, 21.co was founded to build bridges into the crypto world. And since then, 21.co has been on a tremendous journey to stay ahead of the market by providing investors with the most innovative Crypto Exchange Traded Products (ETP), the widest token solutions, a decentralized software platform to create, list and managing ETPs globally and more forward-looking solutions – all powered by free institutional research to educate investors about the evolving industry.
Another announcement: In addition to funding, the company also announced its new parent company, 21.co. 21.co is a collection of companies, the largest of which is 21Shares, the world’s largest issuer of cryptocurrency exchange-traded products (ETPs) – powered by Onyx, a proprietary technology platform used to issue and operate cryptocurrency ETPs for 21Shares and third parties – as well to Amun, a token provider focused on making the world of DeFi more accessible.
KEY QUOTES:
“My co-founder, Ophelia, and I set out with a simple mission to make crypto more accessible. Now we are the highest valued and largest tech startup in Switzerland – and we are still only in the early days. 21.co remains committed to to build innovative products that meet investor demand as this asset class continues to rapidly gain momentum.”
— Hany Rashwan, CEO and co-founder at 21.co
“The success 21.co has experienced over the past four years is truly amazing. We have built an incredibly diverse team, with some of the brightest minds in crypto and brought in top investors. Our efforts to revolutionize the crypto world and build bridges into the asset class are just getting started.”
— Ophelia Snyder, president and co-founder at 21.co
“At Marshall Wace, our culture is built around innovation – and we saw an immediate alignment of values when we met the team at 21.co. 21co is a first-mover in the crypto industry: the company is focused on growth, and committed to bringing new and innovative products to investors across markets – in a secure, accessible way. Even in the midst of crypto winter, MW believes that 21.co has the potential to revolutionize the industry globally, and we look forward to working with the team.”
— Amit Rajpal, Partner and CEO Asia at Marshall Wace
“When I first met the team at 21.co, I understood their long-term vision and truly believed that the company would transform the crypto ecosystem. This round is a testament to 21.co’s early success and its ability to thrive in both bull and bear markets. I is proud to be part of the growth story of 21.co.”
— Cathie Wood, Founder, CEO and CIO of ARK Investment Management LLC, and an independent board member of 21.co
