Talos raises $105M to become the latest crypto unicorn valued at $1.3B

Published at: May 10, 2022

PayPal-backed cryptocurrency firm Talos is becoming the latest unicorn in the industry, reaching a $1.25 billion valuation following new funding.

Talos has raised $105 million in Series B funding round led by a major global growth equity firm, General Atlantic, according to an announcement released on May 10.

The funding will help Talos extend its institutional-grade digital asset platform as well as accelerate the firm’s expansion into the Asia-Pacific region and Europe.

The raise featured major firms in both the traditional finance and the crypto industry, including Ken Fox’s private equity firm Stripes, BNY Mellon, Citi, Wells Fargo Strategic Capital, investment firms like DRW and SCB 10x, crypto trading platform Voyager and others.

“This investment is the latest example of BNY Mellon’s commitment to the future of digital assets,” BNY Mellon’s global FX head Jason Vitale said. He added that BNY Mellon is among new advisors on Talos’ Strategic Investor Forum working on building institutional solutions for the crypto market.

The funding round also involved existing investors from Talos’ $40 Series A round closed in May 2021, including Andreessen Horowitz, PayPal Ventures, Fidelity Investments, Castle Island Ventures, Illuminate, Notation Capital and Initialized Capital.

The funding is a major indicator of the growing institutional adoption, Talos co-founder and CEO Anton Katz said:

“This funding round represents a major inflection point for the industry. We’ve long heard that "the institutions are coming." The institutions are now here, and we’re extremely proud to be the digital asset trading platform of choice for leading institutions around the world.”

Founded in 2018, Talos is an institutional-grade infrastructure technology provider in the cryptocurrency industry, offering services for trading, settlement and others.

Related: Philippines' fintech achieves unicorn status after embracing crypto payments

According to the company’s website, Talos’ partner base covers a wide number of firms in the crypto ecosystem, including multiple exchanges like Binance, Coinbase and FTX, as well as over-the-counter desks and FX platforms. Talos says its institutional trading volumes surged 20x times year-over-year by May 2022.

Tags
Bitcoin
Trading
Business
Cryptocurrencies
Funding
Paypal
Andreessen Horowitz
Citi
Bny Mellon
Related Posts
PayPal completes crypto trading rollout for UK customers
PayPal officially announced on Friday that all eligible customers in the United Kingdom can now buy, hold and sell cryptocurrencies using their PayPal accounts. Customers can trade four major cryptocurrencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). As announced previously, crypto trading will only be available to PayPal customers with verified identities. PayPal announced plans to move into the British cryptocurrency market in late August, immediately proceeding with a partial rollout of crypto trading services. The move marks the first expansion of PayPal’s cryptocurrency services beyond the United States. Speaking to Cointelegraph, a PayPal spokesperson said, “PayPal …
Adoption / Sept. 17, 2021
European crypto company Bitpanda raises $170M
Austria-based cryptocurrency firm Bitpanda has closed a $170 million funding round to further the firm's international growth. The latest Series B funding round was led by Valar Ventures — a venture capital firm backed by PayPal co-founder Peter Thiel — Bitpanda announced on Tuesday, and featured partners from Yuri Milner’s investment firm DST Global, which is known as a major investor in United States-based crypto-friendly stock trading app Robinhood. While DST is a new investor in Bitpanda, Valar previously led a $52 million Series A round in September 2020. According to Bitpanda, the new funding round has made the firm …
Bitcoin / March 16, 2021
Crypto Trading App Robinhood Reportedly Seeks $250M After March Outages
Popular stock and cryptocurrency trading app had a lot of problems in March, and is reportedly trying to make up for it with help from a new injection of cash. According to Bloomberg, Robinhood is in the process of raising $250 million at a valuation of about $8 billion. Citing anonymous sources, the report says the new funding round will be driven by Robinhood’s existing investors, like major venture capital firm Sequoia Capital. The word is that there’s still no final deal. Cointelegraph contacted Robinhood for comment and didn’t receive an immediate response. We will update this story if they …
Bitcoin / April 20, 2020
Alameda Research leads $35M fund raise for crypto trading app Stacked
Alameda Research, a cryptocurrency trading firm founded by crypto billionaire Sam Bankman-Fried, has led a $35 million investment in the automated crypto trading app Stacked. On Dec. 9, the startup officially announced the successful completion of a Series A funding round co-led by Alameda and Mirana Ventures, a venture partner of Bybit exchange and BitDAO. The new funding will reportedly help Stacked grow its 40-person team to over 100 employees in 2022 and continue scaling its suite crypto portfolios and automated lending products. According to Alameda Research Ventures’ partner Brian Lee, Alameda started investing in Stacked over a year ago …
Bitcoin / Dec. 6, 2021
Amber Group raises $300M to recover from FTX contagion
Amber has completed a new $300 million Series C funding round, led by blockchain-focused venture capital company Fenbushi Capital US, the firm announced on Twitter on Dec. 15. The new funding round comes as Amber has decided to pause its previous Series B funding and proceed with Series C instead due to FTX collapse. Prior to the failure of FTX, Amber was in process of completing an extension of its Series B at a $3 billion valuation. As previously reported, the company was planning to raise $100 million as part of the Series B funding, targeting to complete the round …
Bitcoin / Dec. 16, 2022