FalconX announced a $210 million Series C financing round

By Joy Dumasia

FalconX, digital assets and cryptocurrency financial services company that provides institutions trading, credit, and clearing across major cryptocurrencies, announced a $210M Series C financing round, valuing the company at $3.75 billion.

The round was led by Altimeter Capital, Sapphire Ventures and existing investors B Capital Group and Tiger Global Management, with participation from Mirae Asset. Amex Ventures also increased its existing investors as part of this round. They join existing investors Accel, Accomplice VC, Coinbase Ventures, CMT Digital, Flybridge Capital Partners, Lightspeed Venture Partners, and Avon Ventures, a venture capital fund affiliated with FMR LLC, the parent company of Fidelity Investments.

FalconX has become one of the most highly valued institutional cryptocurrency companies globally, driven by strong unit economics, profitability, and revenue growth across business lines. FalconX leverages machine learning to provide institutions with single counterparty access to global cryptocurrency liquidity with 99.9%+ uptime through its web interface, APIs, and 24/7/365 white-glove trading desk.

FalconX plans to officially announce several new product offerings in the coming months, each of which are currently live, growing quickly, and profitable.

Raghu Yarlagadda, CEO and Co-Founder of FalconX, said: FalconX is the trusted one-stop shop for the world’s leading institutional cryptocurrency market participants – providing the technology, security, and reliability necessary to power their strategies at scale. Serving the world’s leading investors, we are at the forefront of a megatrend which will fundamentally change financial services – if you wouldn’t accept Google or Amazon only working 5 days a week – why aren’t financial services 24/7 truly global and more accessible? Blockchain has proven that it is possible at scale, and FalconX is excited to lead that change.”

IBS Intelligence recently reported that FalconX, an all-in-one platform for institutions trading cryptocurrency, has announced an investment from American Express Ventures, which joins existing investors Accel, Accomplice VC, Coinbase Fenbushi Capital, Flybridge Capital Partners, Lightspeed Venture Partners, and Avon Ventures.