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Crypto Financial Services Firm Matrixport Seeks $100M in Funding – Bitcoin News
Crypto firm Matrixport Technologies is reportedly seeking $100 million in funding, according to people familiar with the matter. Sources detailed that the company has already secured approximately $50 million worth of commitments from investors, which would give Matrixport a post valuation of $1.5 billion.
Matrixport looks to raise $100 million from strategic investors
Digital asset firm and crypto lender Matrixport is targeting $100 million from strategic investors, according to a story first reported by Bloomberg. The Singaporean outfit was founded in 2019 by billionaire and former Bitmain CEO Jihan Wu. The financial services company’s operations include crypto-earning programs, lending products and Ethereum 2.0 staking services.
Bloomberg’s sources say that Matrixport has already gathered “commitments from leading investors for $50 million.” The report notes that Tiger Global and Dragonfly are some of Matrixport’s committed supporters. With a capital raising of $50 million, 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 are excited and look forward to engaging with participants on similar terms in the second 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, becoming a unicorn company valued at $1 billion at the time. The round was led by DST Global, C Ventures and K3 Ventures. Regarding the new funding, Matrixport PR manager Ross Gan said “Matrixport routinely engages with key stakeholders as part of its normal business.”
What do you think about Matrixport seeking $100 million in new funding? Let us know what you think about this topic in the comments section below.
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