Valr secures a financing of $ 50 million with an assessment of $ 240 million
Valr secures a financing of $ 50 million with an assessment of $ 240 million
- The capital increase was completed with an assessment of $ 240 million with the participation of large names such as Pantera Capital
- The stock exchange will use the capital to add further products, to expand into other markets and to hire more employees
in the greatest increase that has ever been achieved by an African crypto company, the crypto exchange Valr, today Millions of US dollars led by Pantera Capital. Several other institutional investors were involved, including Coinbase Ventures, Third Prime, Alameda Research, Distributed Global and Avon Ventures, a subsidiary of Fidelity Investments. After the increase, Valr has an assessment of $ 240 million.
VALR started in June 2019 and already completed a ten-time assessment in July 2020 of Serie A in the amount of $ 3.45 million than the current one. The stock exchange has expanded its services for customers, including lending and facilitating the purchase and sale of derivatives.
VALR enables users to deal with up to 60 different cryptom coins and says that it has previously processed a trade volume of over $ 7.5 billion. It houses over 250,000 private customers who are largely based in South Africa and another 500 institutional customers worldwide.
targeted growth beyond home
The crypto exchange now shows the ambition to explode in the global scene. It was said that the capital collected would enable him not only to achieve more African countries, but also to target other aspiring markets such as India. Valr also aims to hire more employees and to improve the products that the existing customers offer.
" There is no longer any doubt about the effects of crypto systems on our global financial system." said co -founder and CEO of Valr Farzam Ehsani, according to a published explanation. will enable so many more in Africa and the world. ”
The stock exchange is aimed at large banks, insurance companies and hedge funds, since it intends to gain more participating institutions from traditional financial system by providing them with the necessary infrastructure to penetrate the crypto scene.
" The world is on the abyss of huge financial changes. Crypto-assets are becoming more and more important for all of our lives. Valr is here to help our customers make a bridge from the old to the new financial system. No matter whether they are an individual or an institution, we look forward to serving them." added the CEO.
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Source: Coinlist.me