FalconX, a cryptocurrency platform focused on institutional clients, has raised $150 million in a Series D funding round that has raised the company’s valuation to $8 billion.
The round was led by GIC and B Capital. Other participants include Thoma Bravo, Wellington Management, Adams Street Partners and Tiger Global Management.
FalconX founder and CEO Raghu Yarlagadda has commented:
“This investment is a testament to our customer focus, the health and strength of the crypto industry, and our drive to transform digital assets.”
The company has noted that in spite of the volatility of the markets, Q1 2022 was the most successful for it in terms of attracting new customers. This is due to the demand for brokerage services from a wide range of institutional, FalconX believes.
Per the press release:
“We are in the early stages of moving towards digital asset transformation and cryptocurrencies are the first use case. Soon every asset will survive tokenization and become truly global.”