1 year ago
The integer plus spot steadfast Bitgo, headquartered successful Palo Alto, California, has secured $100 cardinal successful a Series C backing round. While the institution remains tight-lipped astir the participants successful this fiscal endeavor, this caller infusion of superior catapults the firm’s post-valuation to $1.75 billion.
Bitgo Raises $100 Million From Undisclosed Investors
Bitgo has successfully bagged $100 cardinal successful a Series C backing round, with the investors’ names nether wraps, arsenic per a Bloomberg report. Bitgo’s apical executive, Mike Belshe, acknowledged the challenging marketplace landscape. Yet, helium emphasized the company’s committedness to licensing and regulatory measures, noting, “Regulatory information is top-of-mind for everyone,” successful a speech with Bloomberg’s Hannah Miller.
This update comes connected the heels of Galaxy Digital scrapping its intentions to drawback up Bitgo for a chill $1.2 cardinal successful August 2022. Earlier, successful June, Bitgo had its eyes connected the beleaguered crypto custodian, Prime Trust, with acquisition plans. However, the deal fell through. Prime Trust soon recovered itself filing for Chapter 11 bankruptcy extortion the pursuing month.
Though the Prime Trust woody went south, Belshe indicated to Miller that a information of this caller superior would substance aboriginal acquisitions. He alluded to 2 imaginable buyouts already successful the pipeline, arsenic cited by Miller. While Bitgo remains mum connected this round’s backers, past investors person featured large names similar Pantera Capital, Digital Currency Group, Redpoint, Goldman Sachs, and DRW Holdings.
What bash you deliberation astir Bitgo’s latest superior rise for $100 million? Share your thoughts and opinions astir this taxable successful the comments conception below.
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