The crypto lending platform Matrixport by Jihan Wu plans to raise $100 million in financing at a $1.5 billion valuation. Bloomberg reports.
We’re excited and look forward to engaging with participants, on similar terms, in the other half of the #funding round.
Appreciate the trust and confidence our investors continue have in Team #Matrixport.@business 📰👇https://t.co/DqQhsYucUy
— Matrixport (@realMatrixport) November 25, 2022
According to the agency’s sources, the company has already secured commitments from investors totaling $50 million. The search for additional round participants continues, they said.
“As part of its business processes, Matrixport regularly engages with key stakeholders, including investors interested in realising our mission as a provider of financial services in the digital assets space,” commented Ross Gan, the company’s spokesperson, confirming the fundraising.
According to the presentation filed in Singapore, Matrixport processes $5 billion in transactions per month and manages assets worth “tens of billions of dollars.” The company employs around 300 people.
Bloomberg named Matrixport one of the largest crypto lenders in Southeast Asia. Among the platform’s main competitors is Babel Finance, which is undergoing a restructuring due to financial problems.
In November, Matrixport acknowledged that the “FTX collapse” affected some of the company’s products. The platform said that allegedly 79 users incurred losses. However, the firm reassured that it has “no risk of insolvency” due to the exchange collapse and Alameda Research’s affiliate.
Back in August 2021, Matrixport reached unicorn status, with the company raised $100 million at a $1 billion valuation.
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