{"id":58433,"date":"2022-03-01T09:59:53","date_gmt":"2022-03-01T07:59:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=58433"},"modified":"2025-09-04T16:47:22","modified_gmt":"2025-09-04T13:47:22","slug":"south-africas-valr-raises-50m-in-series-b-at-a-240m-valuation","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/south-africas-valr-raises-50m-in-series-b-at-a-240m-valuation\/","title":{"rendered":"South Africa&#8217;s VALR raises $50m in Series B at a $240m valuation"},"content":{"rendered":"<p>The South Africa-based cryptocurrency exchange VALR closed a $50m Series B financing round. It was led by Pantera Capital.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Announcing VALR\u2019s $50m Series B \u2014 Africa\u2019s largest ever crypto funding round<\/p>\n<p>Proud moment for our team<br \/>Proud moment for Africa<\/p>\n<p>All thanks to you<\/p>\n<p>\u2764\ufe0f VALR<a href=\"https:\/\/t.co\/NplrsraExZ\">https:\/\/t.co\/NplrsraExZ<\/a><\/p>\n<p>\u2014 VALR (@VALRdotcom) <a href=\"https:\/\/twitter.com\/VALRdotcom\/status\/1498523647459397635?ref_src=twsrc%5Etfw\">March 1, 2022<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The round also included investments from Alameda Research, Cadenza, CMT Digital, Coinbase Ventures, Distributed Global, GSR, Third Prime, Avon Ventures, Bittrex and 4Di Capital.<\/p>\n<p>The round, the largest in the region, valued the platform at $240 million. The figure is tenfold higher than in July 2020, when the firm raised $3.4 million from BitMEX operator the 100x Group and others.<\/p>\n<p>According to the company, since 2019, 250,000 retail and 500 institutional clients have conducted trades on the platform worth $7.5 billion. VALR offers trading across 69 trading pairs of digital assets.<\/p>\n<p>The funds will be directed to expand into India and other African countries, hire staff, and broaden the product lineup.<\/p>\n<p>VALR plans to attract new customers among banks, insurers and hedge funds.<\/p>\n<p>Earlier, the government of South Africa <a href=\"https:\/\/forklog.com\/en\/news\/south-africa-to-ban-pension-funds-from-investing-in-cryptocurrencies\">proposed to ban<\/a> pension funds from investing in cryptocurrencies.<\/p>\n<p>In September 2021, the head of the country\u2019s Reserve Bank, Lesetja Kganyago <a href=\"https:\/\/forklog.com\/en\/news\/south-africa-central-bank-chief-declines-to-call-bitcoin-a-currency\">refused to recognise Bitcoin as a currency<\/a>.<\/p>\n<p>Follow ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full news feed, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news, infographics and opinions<\/p>\n","protected":false},"excerpt":{"rendered":"<p>South Africa-based cryptocurrency exchange VALR closed a $50m Series B financing round. It was led by Pantera Capital.<\/p>\n","protected":false},"author":1,"featured_media":26216,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1839,1133],"class_list":["post-58433","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-south-africa","tag-venture-investments"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58433","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=58433"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58433\/revisions"}],"predecessor-version":[{"id":58434,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/58433\/revisions\/58434"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/26216"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=58433"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=58433"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=58433"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}