Digital assets platform FalconX hits $3.75bn valuation with $210m Series C round
FalconX, a digital assets and cryptocurrency trading start-up focused on institutions, has secured $210 million in new funding.
The Series C investment round was led by Altimeter Capital, Sapphire Ventures and existing investors B Capital Group and Tiger Global, with participation from Mirae Asset and Amex Ventures.
The California-based firm, which also landed a $50 million investment in March, says the new funding values the company at $3.75 billion, earning it unicorn status.
FalconX provides a digital assets platform that facilitates cryptocurrency trading, credit and clearing for institutions.
It leverages machine learning and data science to provide a 24/7 single point of access to global crypto markets.
Founded in 2018, the start-up claims to have experienced 30x year-on-year revenue growth driven by the ongoing cryptocurrency boom, which saw its trading volumes increase to over $3 billion in Q4 2020.
The company says it will use the new funding to grow its team, explore strategic acquisitions and expand its product lines, with “several” new product offerings due “in the coming months”.