Sygnum closes $40M funding round, valuing the crypto banking group at $900M

In this post:

  • Sygnum crypto bank raised $40M, now valued at $900M, to expand in Europe and Asia.
  • Sygnum’s AUM hits $4B, serving 1,700+ clients from 60 countries since Jan 2022.
  • Sygnum’s trust-building strategy attracts investors in the growing crypto industry.

Switzerland-based crypto banking group Sygnum has successfully closed a funding round, raising $40 million and achieving a valuation of $900 million. The company’s CEO, Mathias Imbach, expressed gratitude for the trust shown by investors in the challenging macroeconomic environment and highlighted Sygnum’s commitment to building trust through regulation and good governance.

Investment manager Azimut Holdings led the funding round, and Sygnum plans to utilize the proceeds to expand its services into new markets across Europe and Asia. This achievement comes from a $90 million funding round in January 2022, which valued the firm at $800 million.

Sygnum’s remarkable growth

Since the conclusion of the last funding round, Sygnum has experienced remarkable growth, with its assets under management (AUM) soaring to $4 billion. The company now serves more than 1,700 clients from over 60 countries, a testament to its growing global footprint.

Gerald Goh, Sygnum’s co-founder and CEO of its Singapore operations, highlighted the evolving crypto landscape, stating that the broader industry is emerging from the “crypto winter.” Investors and market participants increasingly seek partnerships with trusted and well-managed financial institutions like Sygnum. 

The latest funding round will enable Sygnum to enhance its suite of fully regulated solutions further, supporting investors as they seek to increase their exposure to the crypto asset class.

Sygnum’s strategic investments

In April of the previous year, Sygnum participated in a $23 million fundraising round for staking provider P2P.org. P2P.org is actively developing an intermediary-focused infrastructure platform, leveraging the recent Shanghai upgrade of Ethereum to enhance the user experience in staking and drive expansion initiatives.

Sygnum’s $40 million funding round is a testament to its strategic vision and steady growth in the crypto banking sector. The company’s plans to expand into new markets in Europe and Asia demonstrate its commitment to becoming a global leader in crypto banking services. 

As the crypto industry continues to evolve, Sygnum’s emphasis on regulation, governance, and trust positions it as a reliable partner for investors and market participants.

Investors show confidence

The successful funding round led by Azimut Holdings reflects investors’ confidence in Sygnum’s business model and its ability to navigate the volatile crypto market. As the crypto industry matures and regulatory frameworks become more established, Sygnum’s approach of building trust through adherence to regulations and good governance is gaining recognition and support from investors.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

Share link:

Most read

Loading Most Read articles...

Stay on top of crypto news, get daily updates in your inbox

Related News

The SandBox VoxEdit Contest
Subscribe to CryptoPolitan