How Much Did Sygnum Raise? Funding & Key Investors

Sygnum has successfully raised USD 90 million in a Series B round and an additional USD 40 million in an oversubscribed growth round, achieving a valuation of USD 1 billion. The company has completed five funding rounds, with the latest being a Series C round, and is backed by 15 investors, including Fulgur Ventures and Azimut Holding.

Keep reading to explore the intricacies of Sygnum's fundraising journey and the investors backing this innovative digital asset banking group.

What Is Sygnum?

Sygnum, founded in 2017, is a pioneering digital asset banking group headquartered in Zürich, Switzerland. The company operates in various industries, including asset management, banking, cryptocurrency, finance, financial services, and fintech.

With a global presence, Sygnum has offices in Switzerland, Singapore, UAE, and Luxembourg. The company employs over 250 team members and serves more than 2000 clients worldwide. Sygnum is fully regulated, holding multiple licenses, including a Swiss universal banking license and licenses from the Monetary Authority of Singapore.

How Much Funding Has Sygnum Raised?

1. Seed Round
   • Amount Raised: Not publicly disclosed
   • Date: January 2018
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To establish the company and develop initial digital asset banking services.
2. Series A
   • Amount Raised: Not publicly disclosed
   • Date: February 2021
   • Lead Investors: SBI Digital Asset Holdings
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand product offerings and enhance regulatory compliance.
3. Series B
   • Amount Raised: USD 90,000,000
   • Date: January 2022
   • Lead Investors: Rafael Nicolas Fermin Cota, Sun Hung Kai & Co. Limited
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support growth and expand into new markets.
4. Series Unknown
   • Amount Raised: USD 40,000,000
   • Date: January 2024
   • Lead Investors: Azimut Holding
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To enhance product portfolio and strengthen market position.
5. Series C
   • Amount Raised: USD 58,000,000
   • Date: January 2025
   • Lead Investors: Fulgur Ventures
   • Valuation at Round: USD 1 billion
   • Motivation Behind the Round: To expand presence in Europe and Hong Kong, and invest in infrastructure and product lineup.

Total Amount Raised: USD 188,000,000. Current Valuation: USD 1 billion.

Key Investors

• Fulgur Ventures
  • Details: Fulgur Ventures is a venture capital firm focusing on Bitcoin technologies, infrastructure, and applications that drive Bitcoin adoption. Founded in 2019, it provides early-stage, follow-on, and growth capital for startups in the Bitcoin and Lightning Network ecosystems.
  • Investment Focus Areas: Bitcoin technologies, infrastructure and applications driving Bitcoin adoption, Bitcoin scaling technologies such as Lightning and Liquid networks.
  • Notable Investments: Blockstream, Bitcoin Layer-2 solution Liquid Network.
• Azimut Holding
  • Details: Azimut Holding is a leading independent asset manager in Italy, with a strong presence in Europe, Asia, and the Americas. The company offers a wide range of financial services, including asset management, wealth management, and investment advisory.
  • Investment Focus Areas: Asset management, wealth management, investment advisory.
  • Notable Investments: Not publicly disclosed.
• Rafael Nicolas Fermin Cota
  • Details: Rafael Nicolas Fermin Cota is an investor known for his involvement in various financial ventures. His specific focus areas and notable investments are not publicly disclosed.
  • Investment Focus Areas: Not publicly disclosed.
  • Notable Investments: Not publicly disclosed.
• Sun Hung Kai & Co. Limited
  • Details: Sun Hung Kai & Co. Limited is a leading investment company based in Hong Kong, with a diversified portfolio that includes financial services, real estate, and consumer finance.
  • Investment Focus Areas: Financial services, real estate, consumer finance.
  • Notable Investments: Not publicly disclosed.
• SBI Digital Asset Holdings
  • Details: SBI Digital Asset Holdings is a subsidiary of SBI Holdings, a financial services company based in Japan. The firm focuses on digital asset-related businesses, including blockchain technology and cryptocurrency investments.
  • Investment Focus Areas: Blockchain technology, cryptocurrency investments, digital asset-related businesses.
  • Notable Investments: Not publicly disclosed.

What's Next for Sygnum?

Sygnum's future is brimming with opportunities as it plans to expand into European markets and Hong Kong. With a $58 million funding boost, the company aims to enhance its product portfolio and infrastructure, leveraging the growing institutional adoption of digital assets. This expansion could significantly increase its market presence and client base.

Future fundraising rounds are likely, given the strong investor confidence demonstrated in the recent oversubscribed round. Strategic acquisitions and partnerships, particularly in the U.S., could further bolster Sygnum's growth. However, navigating regulatory environments and maintaining operational resilience amidst market volatility will be crucial challenges.

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