Coinhouse raises €15m to become the first European cryptobank

By Joy Dumasia

Coinhouse, the pioneer in the digital assets industry, has closed a €15 million Series B round led by True Global Ventures. Among the investors: CF Partners, XAnge, Raise Ventures, Expon, ConsenSys AG, and leading business angels such as Eric Larchevêque (Ledger’s co-founder) complete this round. This round will help accelerate the large-scale development of Coinhouse’s services for individuals and businesses in Europe, particularly in Luxembourg.

This €15 million fundraising will allow Coinhouse to:

• Diversify its product offering to facilitate access to the crypto markets for all.
• Expand its presence in Europe.
• Strengthen its offering to corporate and institutional investors.

Nearly three years after raising €2.4 million in Series A funding, the FinTech company is continuing its strong growth with a tripling of the workforce and a 12-fold increase in turnover in three years. This development is fully in line with the growing adoption of crypto-assets by European savers, who are looking for diversification solutions in the context of growing inflation and virtually zero return investments offered by traditional players.

Nicolas Louvet, Co-Founder and CEO of Coinhouse and Coinhouse Custody Services, said: “Coinhouse wants to position itself as the first European “cryptobank”. Its objective is to make crypto-assets accessible to as many people as possible, within a regulated framework that guarantees investors’ peace of mind. Thanks to this fundraising, Coinhouse will continue to diversify its offer, expand in Europe and strengthen its teams to support its growth and allow European customers, individuals and businesses, to diversify and grow their savings.”

Alexis Du Peloux, Investment Director of the XAnge fund, said: “We have been with Nicolas and his teams since the beginning of the adventure. Given the excellent execution, we are delighted to be participating for the third consecutive time. Crypto-assets are still in their infancy and Coinhouse is on its way to becoming one of the European leaders in the sector.”

Pierre-Edouard Berion, Partner at Raise Ventures, said: “We are very proud to support Coinhouse, one of the pioneering players in the crypto world in Europe. In a context where crypto is now a reality, we value the fact that Coinhouse is a regulated player that advocates a serious and responsible approach to the sector. In light of past performance and growth perspectives, we see Coinhouse as the future European leader in cryptobanking.”