Abra closes $55 million Series C round

Abra closes a $55 million Series C round for its digital asset management platform.

Abra announces $55m Series C round to continue rapid growth!#SeriesC #Abra #businesswirehttps://t.co/KTrW5APpfY

— Abra (@AbraGlobal) September 15, 2021

Investors included Blockchain Capital, IGNIA, Kingsway Capital, Tiga Investments, Stellar Development Foundation, Amex Ventures, Arbor Ventures, RRE Ventures, CMT Digital Ventures, Kenetic Advisors, and others.

Since its founding in 2014, Abra has raised more than $85 million. In May 2020, the Stellar Development Foundation invested $5 million in the platform.

The funds will be allocated to expanding the product team and hiring additional marketers, as well as further developing institutional solutions.

Earlier, Australian digital asset manager Monochrome closed a Series A round of financing for $1.8 million. The company was valued at about $15 million.

In September, the asset-management platform Cabital raised $4 million in a seed round of financing. Investors valued the startup at $40 million.

In August, the cryptocurrency exchanges Coinbase and Gemini backed the crypto platform Onramp Invest in a seed financing round of $6 million.

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