Institutional Bulletin: TradingView valued at $3 billion, Celsius Network raises $400 million

The cryptocurrency industry is attracting an increasing number of institutional players. This is evident in both new investments in infrastructure and the growing attention that companies are paying to Bitcoin as an asset class. The most important events of the past weeks are in ForkLog’s overview.

Celsius Network announced a $400 million investment round at a valuation of $3 billion

The centralized cryptocurrency lending platform Celsius Network announced a $400 million investment round. As a result, the company’s market valuation exceeded $3 billion.

The round was led by WestCap investment firm and Canada’s second-largest pension fund, Caisse de dépôt et placement du Québec.

The funds will be used to expand the product lineup and to ‘build bridges between traditional finance and cryptocurrencies’. Part of the financing will be used to grow the team from 489 employees to nearly 1,000 and to support global growth through strategic acquisitions.

The round occurred amid allegations in the United States that the platform was selling unregistered securities. The complaints were raised by state regulators in Texas, New Jersey, Alabama and Kentucky.

MoonPay raised $400 million in its first venture funding round at a $3.4 billion valuation

According to The Information, the crypto-payments startup MoonPay raised $400 million in its first venture funding round with a $3.4 billion valuation. It was led by Tiger Global Management and Coatue Management.

The startup enables using credit cards to buy cryptocurrency or other digital assets on exchanges such as OpenSea, Bitcoin.com, Abra, ZenGo, Spot and Trust Wallet.

Launched in 2019 MoonPay counts more than five million users and supports more than 80 digital assets.

TradingView raised $298 million at a $3 billion valuation

The financial analytics portal TradingView raised $298 million at a $3 billion valuation. The funding round was led by Tiger Global Management.

The TradingView platform allows tracking exchange charts and news, as well as discussing market information. Over the last 18 months its audience grew by 237%, to 29 million per month.

The London-based company did not disclose revenue or other financial metrics, but noted that it is profitable.

The funds will be used to expand the business and develop the brand. The company plans to bring online brokers on board by integrating its service with their platforms.

Fintech startup Tala closes Series E at $145 million

Fintech startup Tala closed a Series E round worth $145 million. It was led by the lending platform Upstart.

Other participants include: Stellar Development Foundation, IVP, Revolution Growth, PayPal Ventures and Lowercase Capital. New investors included Kindred Ventures and J.Safra Group.

The funds will be used to expand financial services and develop a crypto product for developing markets.

The total funding raised by the startup exceeded $350 million, and its valuation reached $800 million.

Tala offers financial services to unbanked users via a mobile app for retail lending.

Upbit exchange operator raises $85 million at a $10 billion valuation

The South Korean company Dunamu, operator of the Upbit Bitcoin exchange, raised $85 million. As a result, its valuation crossed $10 billion.

In the first three months of 2021, Dunamu reported revenue of $500 million. 92% of total revenue was operating income. The company expects that for the year this figure will exceed $1.7 billion.

BitOasis from the UAE raises $30 million

UAE-based crypto exchange BitOasis closed a Series B round for $30 million. It was led by Jump Capital and Wamda.

Participants included existing platform investors Pantera Capital, Digital Currency Group, NXMH, and new entrants: Alameda Research and Global Founders Capital.

The funds will be used to expand the business in the Middle East and North Africa. The company also plans to cooperate with government authorities in the countries where it operates to raise awareness of crypto-safety.

The company also intends to consolidate its business in its jurisdictions of presence and to grow the product lineup in line with its growth strategy.

Makor Group raises $17 million from Alan Howard and Algorand

Investment bank Makor Group raised $17 million following a Series A round with the participation of billionaire Alan Howard and Algorand.

The funds will be used for international expansion, acquisitions of competitors and expansion of the crypto-brokerage subsidiary Enigma Securities.

The Makor Group’s valuation reached $200 million.

African Bitcoin exchange Yellow Card raises $15 million from Square and Coinbase

African crypto exchange Yellow Card raised $15 million in a Series A round. It was led by Valar Ventures, Third Prime and Castle Island Ventures with participation from Square, Jack Dorsey, and Coinbase Ventures.

Other investors include platform investors Pantera Capital, Digital Currency Group, NXMH, as well as new entrants: Alameda Research and Global Founders Capital.

Launched in Nigeria in 2018, Yellow Card operates in 12 countries and increased its users 30-fold during the pandemic. The platform enables trading of Bitcoin, Ethereum and USDT.

SheeldMarket, a French prime broker, raises $10 million

The France-based licensed prime broker SheeldMarket raised $10 million in a Series A round.

Led by British venture firms Atomico and Semantic Ventures. A number of angel investors also participated, including Ledger’s Pascal Gauthier and Zenly co-founder Alexis Bonillo.

The funds will be used to develop derivative financial instruments and DeFi services targeted at institutional users.

Blockchain platform for issuing “social money” raises $10 million

Ethereum-platform Roll closed a Series A round of $10 million. It was led by IOSG Ventures.

In the round also took part Animoca Brands, the infrastructure platform Alchemy, Huobi Ventures, Weekend Fund, Audacity and Mischief Fund.

The funds will be used to expand headcount and technical capabilities.

Roll enables any user to issue their own branded tokens on the Ethereum blockchain. They can be used to monetize activity within a community. The platform calls such coins “social money”.

According to the team, Roll supports more than 350 token creators. Daily trading volume is $2 million, annual — $680 million.

Also on ForkLog:

• Bitkraft Ventures launched a $75 million fund focused on blockchain games.
• Media reports said ConsenSys plans to reach a $3 billion valuation.

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