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Usha Yadav
Sep 6, 2022
by Usha Yadav

Crypto Firm 21.co Raises $25 Million to Value it at $2 Billion

21.co

Table of contents

  1. 21.co - Switzerland's Largest Crypto Unicorn
  2. Launch of 21.co Parent Company
The parent business of 21Shares, a crypto investment product company called 21.co announced on Tuesday that it had raised $25 million in a fundraising round headed by Marshall Wace, giving the company a $2 billion valuation. The company said in a statement that it will use the new funding to "continue to drive quick, targeted growth through first-of-their-kind products, major market expansions, and smart talent acquisitions."

21.co - Switzerland's Largest Crypto Unicorn

According to the company, 21.co is now "Switzerland's largest crypto unicorn" based on its post-money valuation. The investment round occurs when riskier assets are being shunned by investors due to the steep decline in cryptocurrency prices this year due to Federal Reserve rate hikes. Collab+Currency, Quiet Ventures, ETFS Capital, and Valor Equity Partners were also investing in the investment round.

Launch of 21.co Parent Company

On Tuesday, the firm announced the launch of the newly formed parent company, 21.co. 21Shares is the world's largest issuer of cryptocurrency exchange-traded products (ETPs). It was the business's first funding round in two years. The firm claimed it had sustained inflows amid depressed markets and finished 2021 "on a nine-figure revenue run rate." According to the statement, 21.co has added $650 million in net new assets since September of last year, and its total assets under administration will reach $3 billion in November of 2021. "To support this rapid business growth, 21.co grew its headcount 75% during this period," it said.

As part of its intentions to grow in the area, 21Shares announced last month that Sherif El-Haddad would serve as its head of the Middle East, located in Dubai.

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21Shares Marshall Wace 21.co
Crypto Firm 21.co Raises $25 Million to Value it at $2 Billion
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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