Copper in the middle of a financing round over $ 196 million

Copper in the middle of a financing round over $ 196 million

The crypto depot bank Copper has raised $ 196 million as part of a current series Cventure round, the last instance of dollars that flow to startups for digital assets despite the Baisse.

The company has raised $ 181 million from new and existing shareholders as well as a mandatory bond of $ 15 million by June. The reported Bloomberg on Wednesday . A company spokesman confirmed the fundraising campaign to Blockworks.

The Copper representative refused to comment on when and to what amount the company would like to end the group, as well as the resulting assessment.

Copper was founded in 2018 and offers institutional investors custody, prime brokerage and processing services. The new financing comes because the company has hired a number of traditional financial veterans this year.

The company won the former Citi manager Sabrina Wilson as Chief Operating Officer in March and stopped five former employees of the Bank of America Merrill Lynch the following month to manage the expansion of his Prime brokerage.

Copper recently won Tim Neill, a former manager of Mastercard, as Chief Risk Officer. Neill, who previously worked at Deutsche Bank, the Standard Chartered Bank and the London Stock Exchange Group, said Blockworks in the early this month that he was planning to transfer his bank background to the structure and refinement of defi-oriented products.

Copper completed a series-A round worth $ 10 million, followed by a series B round worth $ 50 million in May last year. The latter fundraising campaign was jointly led by Dawn Capital and Target.

Bloomberg" Last November, Copper reported in talks with investors about a financing round of around $ 500 million, which the company would have estimated at around $ 3 billion. The cryptoma markets have dropped since then, with the prices for Bitcoin and Ether compared to their all -time highs in November.

The European Bank Barclays bought $ 2 billion in the recent increase in Copper.

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