raises $110M funding round at lower valuation: BBG

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Cryp­to exchange and wal­let ser­vice has report­ed­ly raised a $110 mil­lion fund­ing round.

The Series E round was led by Kingsway, which led a fund­ing round for the com­pa­ny in Octo­ber 2022, accord­ing to Bloomberg. The out­let char­ac­ter­ized the fund­ing round as “strate­gic financing.” scored a $14 bil­lion val­u­a­tion in an ear­ly 2022 fund­ing round, as Bloomberg report­ed at the time. Accord­ing to the out­let, the new Kingsway-led round was raised at “less than half” of that amount.

The poten­tial for a down round — where­in a com­pa­ny rais­es at a val­u­a­tion low­er than a pre­vi­ous fundraise — was pre­vi­ous­ly report­ed by Bloomberg. 

With the fresh cap­i­tal in hand, has raised as much as $600 mil­lion since its found­ing in 2011, accord­ing to Crunch­base data.

Light­speed Ven­ture Part­ners, Coin­base Ven­tures, Lakestar and Bail­lie Gif­ford also took part in the round. Light­speed Ven­ture Part­ners led the ear­ly 2022 deal.

Bail­lie Gif­ford, an ear­ly backer of Tes­la, con­tributed $100 mil­lion to’s $300 mil­lion Series C round in 2021.

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