FalconX bags $150 million in the Series D round of funding led by GIC and B Capital
- ByStartupStory | June 23, 2022
FalconX, a platform for crypto-related digital assets, revealed on Wednesday that it has secured $150 million in a Series D fundraising round at an $8 billion value. Investment companies GIC and B Capital took the lead in the round. Additionally, contributions were made by Thoma Bravo, Wellington Management, Adams Street, and Tiger Global Management.
The company has secured money in a Series C round in August 2021 at a $3.75 billion value. Through a single interface, the digital asset platform enables institutions to access and manage all of their crypto strategies. It enables banks, fintech firms, and investment applications to swiftly incorporate cryptocurrency into their product offerings with the goal of allowing crypto-as-a-service.
FalconX’s CEO and Founder, Raghu Yarlagadda stated, “FalconX is one of the very few premier crypto brokerages that does not assume market risk, we do not compete with our customers’ trading tactics. This is very beneficial to our clients since they need a trustworthy provider of market infrastructure in light of recent market conditions. This investment is proof of the importance we place on putting our clients first, the robustness and vitality of the cryptocurrency market, and the shift toward the transformation of digital assets.”
In May, the company became a licenced swap dealer with the CFTC (Commodities Futures Trading Commission) and one of the International Swaps & Derivatives Association’s first main level members with a focus on cryptocurrencies (ISDA).
Rashmi Gopinath, general partner at B Capital said, “We partner with firms that will have an enduring influence on the sectors and customers they serve. As a tech-first platform for digital asset infrastructure, FalconX offers a comprehensive product lineup with unmatched execution that enables more than 70 million transactions each month.”
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