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Global digital asset banking group Sygnum today announced that it has raised more than USD 40 million against an initial ~USD 35 million target in an interim close of its latest funding round, which is named the Strategic Growth Round. As of the completion of this interim close, the company’s post-money valuation stands at USD 900 million.
Sygnum, a leading crypto banking group headquartered in Switzerland, has successfully closed a $40 million funding round, propelling its valuation to $900 million.
The funds will also be used to accelerate the development of the bank’s fully regulated products. Read more at straitstimes.com.
The funding round saw investments from both new and existing strategic and financial investors, including Sygnum employees.
In 2023, the firm booked over $100 million in an annualised revenue run rate and achieved positive cash flow in Q4.