Matrixport, SG’s crypto-finance platform, becomes unicorn after raising $100m

Matrixport, a digital assets financial services platform headquartered in Singapore, announced raising $100 million in a funding round that transforms it into a unicorn company.

In a statement, the startup said its Series C funding round gave it a valuation of over $1 billion. The round was led by partners of DST Global, C Ventures, and K3 Ventures.

Other participants include Qiming Venture Partners, CE Innovation Capital, Tiger Global, Cachet Group, Palm Drive Capital, Foresight Ventures, and AT&T.

Existing investors Lightspeed, Polychain, Dragonfly Capital, CMT Digital, and IDG Capital also backed the funding round that sent Matrixport’s total funds raised to date to $129 million.

Established in 2019, Matrixport offers a full suite of cryptocurrency financial services including institutional custody, trading, lending, structured products, and asset management to institutional and retail clients.

As of March 2021, the company held over $10 billion of client assets under management and custody and recorded $5 billion in monthly transactions across all product lines.

The company plans to further invest in research and development to enhance its innovative product offerings and security while optimising for an even greater user experience.

The funds will also be used to support its global expansion as well as to secure licenses to operate in more jurisdictions. With the company’s vision to “Make Crypto Easy For Everyone”, the roll-out will allow more users globally to embrace its cryptocurrency financial services platform.

“We are more than a gateway to the crypto economy. Matrixport is where both institutional customers and individuals find it easy to get more from their crypto, beyond just trading… We believe that it is very important to give the choice back to our customers with a range of innovative crypto investment products,” said John Ge, Co-Founder & Chief Executive Officer, Matrixport.

In an interview with Bloomberg, Ge revealed plans for Matrixport to go public in three to five years to offer investors an exit.