Citi, Wells Fargo and BNY Mellon invest $105 in Crypto Infrastructure Firm Talos

Talos’s valuation has reached $1.25 billion after the latest $105 million Series B funding round led by global growth equity firm General Atlantic. Stripes and BNY Mellon, Citi and Wells Fargo Strategic Capital are just a few of the investors.

Focused on Institutional Customers

According to the firm’s press release, Talos, a trading infrastructure firm focused on offering crypto services to institutions, said that the new round of investment will help scale and diversify its institutional-grade digital asset platform and accelerate the expansion into APAC and Europe.

The announcement came on the heels of the unicorn’s rapid growth, with institutional trading volume skyrocketing over 20x year-over-year and its end-user base reaching more than 20 million as of 2022. The company has seen a 400% increase in its revenue over the past year and offers opportunities in New York City, London, Sweden, Singapore, and Sweden.

Talos CEO Anton Katz said, “digital assets infrastructure will have a wide-scale impact on the entire financial industry,” and touted his prediction that traditional asset classes will eventually move into the crypto space. According to reports, Katz stated that the firm doesn’t plan on going public anytime soon.

Talos is a trading platform that targets institutional clients. It offers services that support the entire trade lifecycle, including settlement and trading via one point of access. Aaron Goldman, Managing Director and Co-Head of Financial Services at General Atlantic, revealed that Talos’s solutions cover every aspect of trading cryptocurrencies and bridging assets from CeFi to DeFi.

“Talos provides enterprise grade order management, liquidity aggregation, algorithmic execution, reporting and compliance to market participants, which should allow for more efficient operations, better execution and lower total cost of ownership.”

$40M Series A Round in 2021

In 2018, the crypto firm was founded. It raised $40 million in Series A funding from Andreessen Horowitz (a16z), PayPal Ventures and Castle Island Ventures last year.

According to the release, previous investors will continue their partnership with Talos through the fund. The firm will also use this opportunity to accelerate global expansion and product innovation.

Get latest news from African Startup ecosystem

Latest stories

You might also like...