Crypto bank Sygnum raised a $90 million investment

After the completion of the Series B funding round, the bank's valuation by investors increased to $800 million

10.01.2022 - 09:05

220

1 min

What’s new? The official Twitter account of crypto bank Sygnum has published news about a successful Series B funding round. As a result, the bank managed to raise around $90 million in funding.

📢News: Sygnum Bank closes USD 90m Series B 🚀 Many thanks to our investors Sun Hung Kai & Co., Meta Investments, @SBI_DAH @SCB10X_OFFICIAL, @animocabrands & Wemade that made this milestone possible! 📈Read the full announcement here 👇https://t.co/EKnMYRvAHc— Sygnum Bank (@sygnumofficial) January 6, 2022

Who was involved? The round was led by Sun Hung Kai & Co. Other major investors and funds to note include: Animoca Brands, Meta Investments, SBI Holdings, and WeMade.

What will the funds be used for? According to the Swiss crypto bank, the funding raised will be used to develop the new products. In particular, it is about staking, farming, and partnerships with other companies.

The Sygnum startup is registered in Switzerland, is licensed by the regulator, and works with over 1000 clients. The bank's total assets under management currently exceed $2 billion.

Author: