FalconX announces Series C Funding for $3.75 billion
FalconX recently announced a Series C round of financing for $210 million. Following the financing round, the company’s valuation stands at a whopping $3.75 billion. FalconX is a company that provides financial services to clients for digital assets and cryptocurrencies. Some of the top names that participated in the financing round include Sapphire Ventures, Altimeter Capital, Tiger Global Management, B Capital Group, Amex Ventures, and Mirae Asset. These names are additions to existing investors such as Coinbase Ventures, Accomplice VC, Accel, Flybridge Capital Partners, CMT Digital, Avon Ventures, and Lightspeed Venture Partners.
Following the announcement, the company’s co-founder and CEO, Raghu Yarlagadda, said that FalconX is trusted by the leading crypto market participants in the world. He also said that the company is a reputed provider of reliability, security and technology needed by crypto market participants. In the words of Yarlagadda, the company is a major trendsetter in the crypto market, which is bound to change financial services fundamentally.
Brad Gertsner, the CEO and founder of Altimeter Capital, one of the participants of the financing round also heaped praise on FalconX. According to Gertsner, FalconX is one of institutional cryptocurrency’s leading companies. He also lauded the remarkable nature of FalconX’s pace of innovation and product velocity. He went on to say that FalconX’s strengths are bound to have an effect on the future of the infrastructure of the crypto and financial market.
B Capital Group’s General Partner Rashmi Gopinath also had words of praise for FalconX, saying that FalconX’s reliability is unmatched. He also said that FalconX is an infrastructure platform that meets the long-term needs of all institutional crypto investors.