FalconX’s Latest $150M Funding Round Brings Valuation to $8B

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Prime digital asset brokerage FalconX has raised $150 million in a Series D funding round, giving the platform a valuation of $8 billion and more than doubling its valuation from its previous funding .

  • GIC and B Capital led the round. Other investors included Thoma Bravo, Wellington Management, Adams Street and Tiger Global Management. In August, FalconX raised $210 million in a Series C funding round, pegging the company at a valuation of $3.75 billion.

  • FalconX says its platform remained strong during the market storm and customer onboarding had its best quarter since its inception in the first quarter, according to Wednesday’s release.

  • “Our valuation reflects our investors’ long-term belief and conviction in the digital asset market,” CEO Raghu Yarlagadda told CoinDesk. “We are one of the few companies that has consistently been profitable, posted revenue, customer growth and navigated volatile market conditions with strong operational rigor and risk management.”

  • Yarlagadda added that FalconX is market neutral and does not take directional risk. “The last few months have been extremely important in demonstrating why market risk neutrality is extremely important.”

  • He said the company is financially strong and growing because the company’s credit offerings are over-collateralized, backed by high-quality, highly liquid collateral, and its assets are deployed solely within the FalconX platform.

  • Meanwhile, FalconX also said it continues to hire across the company despite downsizing at several crypto companies amid the market downturn.

  • In April, FalconX officially registered as a US exchange broker, becoming the first of its kind to enter what Yarlagadda claimed was a massive and underserved market.

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Read more: FalconX Tests the Waters as the First Full-Fledged Crypto Derivatives Dealer

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