Citigroup and Wells Fargo Invest $105 Million in Talos Crypto-Trading Platform

Talos, a provider of infrastructure for crypto trading, raised $105 million in a Series B funding round. The startup’s valuation reached $1.25 billion.

We are humbled and excited to announce the completion of our Series B funding round with some of the industry’s most innovative investors. https://t.co/wYn4uboo2l pic.twitter.com/3wFdFGQbih

— Talos (@talostrading) May 10, 2022

The round was led by General Atlantic. Among the participants were Wells Fargo Strategic Capital, Citigroup, BNY Mellon, DRW, SCB 10x, Stripes, Voyager, and others. All of them invested in Talos for the first time.

The startup was also supported by existing investors, including Andreessen Horowitz (a16z), PayPal Ventures, Castle Island Ventures, and Fidelity Investments.

Talos provides direct access to the cryptocurrency markets, price monitoring, reporting, clearing, and other services for institutional clients.

«This round is a pivotal moment for the industry. We have long heard: “institutions are coming”. Now they are here, and we are proud to be the crypto-trading platform for leading institutions», — said Samar Sen, Talos’s APAC director.

The firm was founded in 2018 in New York and has offices around the world. The funds will be used to expand the business in Europe and the Asia-Pacific region (APR).

«We have grown organically in these regions, but now we want to scale our reach through an expansion strategy,» said Samar Sen, Talos’s APAC director.

To this end, the company will also increase its current headcount by roughly 80 employees.

Currently, Talos provides trading via centralized venues. The firm is studying the possibility of supporting DeFi-sector platforms, Sen noted.

Recall that in May 2021 the startup closed its Series A round for $40 million, led by a16z.