Crypto Exchange Coinmetro Successfully Raises $7M

Crypto exchange Coinmetro The company has raised $7 million in capital in a round that was supported by 100 shareholders and three angel investors.

After the funding, the company’s value has increased by three-fold to $180million. The company was previously valued at $60million last year.

Coinmetro was established in Estonia in 2018 and is an EU-licensed cryptocurrency exchange. The exchange has also been granted regulatory registrations in Australia, Canada, and the United States.

The company intends to use the capital to increase its operations in the US and UK as well as to roll out passive income products.

Kevin Murcko, CEO of Coinmetro, stated that “we have no shortage ideas and are looking forward making them real for the growing community over months and years.”

Crunchbase says that crypto startups have raised $18 million so far.

The company plans to raise Series A funds in the early 2023.

The third quarter saw a $6.5 million average check size for both a pre-Series A and seed round.

Recenty, another crypto firm was looking to raise funds.

CoinFund, a New York-based web3 investment company CoinFund, announced that it is seeking to raise $250 Million just three months after the close of its previous fund.

CoinFund stated that it will use the investment to finance seed-stage startups.

Three filings reveal that CoinFund’s Cayman Islands-domiciled fund seeks to raise $130 million, and $20 million. The company’s Delaware-associated subsidiary is seeking $100 million.

Reports suggest that the funding round remains in its infant phase and that sales have yet to occur.

CoinFund announced that they have launched a $300 million fund in August to support early-stage projects.

Institutional investors including Adams Street Partners, StepStone Group, and Teacher Retirement System of Texas backed the fund.

The Venture Fund, also known as ‘The CoinFund Ventures I Fund’, was created to invest in web3 companies that have commercial traction.

Image source: Shutterstock

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