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Sygnum Raises $40 Million at $900M Valuation in Strategic Funding Round

Twitter icon  •  Published il y a 3 mois  •  Nikolas Sargeant

Crypto bank Sygnum raises over $35 million in funding led by Azimut Holding for market expansion and enhanced regulated products.

Today, Sygnum, a crypto banking group, announced the successful interim close of a strategic funding round, securing over $40 million and surpassing the $35 million target. Azimut Holding led the funding.

Gerald Goh, Sygnum's Singapore arm's CEO, highlighted the industry's emergence from the 'crypto winter,' emphasizing the importance of trusted financial institutions. The raised capital will fuel Sygnum's expansion into new markets and the development of regulated products, including bank-to-bank digital asset services.

Despite regulatory constraints, plans for market entry in Europe and the Asia-Pacific region were disclosed. In its previous series B funding round in January 2022, Sygnum secured $90 million, featuring participation from Asia-based investors like Sun Hung Kai & Co., Animoca Brands, and SBI Holdings.

Operating licenses in Abu Dhabi and Luxembourg further solidify Sygnum's global presence, managing assets exceeding $4 billion from 1,700 clients across 60 countries.

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Nikolas Sargeant

Nik is a content and public relations specialist with an ever-growing interest in Crypto. He has been published on several leading Crypto and blockchain based news sites. He is currently based in Spain, but hails from the Pacific Northwest in the US.