Crypto firm Matrixport Technologies is reportedly seeking $100 million in funding, according to people familiar with the matter. Sources detailed that the company already secured commitments from investors for roughly $50 million, which would give Matrixport a post-valuation of $1.5 billion.
Matrixport seeks to raise $100 million from strategic investors
Digital asset firm and crypto lender Matrixport is targeting $100 million from strategic investors, according to a story first reported by Bloomberg. The Singapore organization was founded in 2019 by billionaire and former Bitmain CEO Jihan Wu. The financial services company’s operations include crypto earning programs, lending products, and Ethereum 2.0 staking services.
Bloomberg’s sources say Matrixport has already gathered “commitments from lead investors for $50 million.” The report notes that Tiger Global and Dragonfly are some of Matrixport’s committed backers. With a $50 million capital raise, Matrixport’s overall valuation could jump to $1.5 billion.
Matrixport confirmed that the company was engaging with investors and shared Bloomberg’s report on Twitter. “We are excited and look forward to engaging with participants on equal terms in the second half of the funding round,” said Matrixport. Tweeted, “We appreciate the trust and confidence our investors have placed in Team Matrixport.”
The company raised $100 million in August 2021 in a Series C fundraising round and it became a unicorn company valued at $1 billion at the time. The round was led by DST Global, C Ventures, and K3 Ventures. As far as the new funding is concerned, Matrixport’s public relations lead Ross Gan said “Matrixport routinely engages with key stakeholders as part of its normal course of business.”
