The CoinList platform, which offers users access to the freshest crypto offerings on the market hit unicorn status after its latest funding round. CoinList raised $100 million from what it calls some of its “closest partners and most active users.”
This includes investors such as Fenbushi Capital, GoldenTree Asset Management, and Alphemy Capital. Accomplice VC and Agman Partners also co-led the round.
According to CoinList CEO Graham Jenkin, this round had an emphasis on strengthening existing community relationships. In addition, Jenkin hinted at the company’s rapid overseas expansion, “While we have some great U.S. investors, our new investors are mostly VIPs and partners in the regions where we are growing fastest — Asia, Europe, and the Middle East.”
In a recent report from Chainalysis, Europe is the world’s largest crypto market. Already the company’s user base increased over the past year, growing to 4.5 million users from over 170 countries.
Massive user increases appear as a trend for some of the crypto industry’s leading companies. Early last month MetaMask reached a 10 million monthly user milestone.
Crypto market surge
According to the company, the massive growth comes from a strong market for new tokens and a service offerings expansion. As the crypto surged this last year and more recently, in these past weeks, companies like CoinList felt the impact.
CoinList reported an increase of monthly trade volume to $1 billion this year. On Oct 26, Uniswap, one of the industry’s leading decentralized exchanges (DEX), surpassed $500 billion in cumulative trade volume.
Moreover, in the lead up to the funding round bitcoin reached a new all-time high (ATH). On Oct 21 it topped $67,000 before retracting slightly.
As crypto inflows break records and institutional investors pour into the crypto space, CoinList and others continue their development. With funds from its latest round, CoinList plans for growth in service offerings, global community support, and new products.
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