Total amount raised
$188 Millions
Latest funding date
01/01/2025
Location
Sygnum has successfully raised a total of USD 130 million over two funding rounds, achieving a valuation of USD 1 billion. The digital asset banking group offers services such as trading, staking, custody, and lending.
Keep reading to explore the intricacies of Sygnum's fundraising journey and the investors backing this innovative platform.
What Is Sygnum?
Sygnum, founded in 2017, is a pioneering digital asset banking group headquartered in Zürich, Switzerland. The company was established by Gerald Goh, Luka Muller, and Mathias Imbach.
Operating in the realms of asset management, banking, cryptocurrency, and fintech, Sygnum employs between 251 and 500 people. The bank offers a comprehensive suite of services, including trading, staking, custody, and lending, catering to professional and institutional investors globally.
How Much Funding Has Sygnum Raised?
- 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 product offerings.
- 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 the company's market presence and enhance its product lineup.
- Series B
- Amount Raised: $90M
- 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 scale operations and invest in new technology.
- Venture Round
- Amount Raised: $40M
- Date: January 2024
- Lead Investors: Azimut Holding
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support geographical expansion and product development.
- Venture Round
- Amount Raised: $58M
- Date: January 2025
- Lead Investors: Fulgur Ventures
- Valuation at Round: $1 billion
- Motivation Behind the Round: To expand into new regions, enhance Bitcoin offerings, and explore strategic acquisitions.
Total Amount Raised: $188M
Current Valuation: $1 billion
Key Investors
- Fulgur Ventures
- Details: Fulgur Ventures is a venture capital firm founded in 2019, focusing on Bitcoin technologies, infrastructure, and applications. They provide early-stage, follow-on, and growth capital for startups in the Bitcoin and Lightning Network ecosystems.
- Investment Focus Areas: Bitcoin technologies, infrastructure, applications driving Bitcoin adoption
- Notable Investments: Blockstream, Bitcoin Layer-2 solution Liquid Network
- Azimut Holding
- Details: Azimut Holding is an independent asset management company based in Italy. It offers a range of financial services, including investment management, advisory, and insurance.
- Investment Focus Areas: Asset management, financial advisory, insurance
- Notable Investments: Not publicly disclosed
- Rafael Nicolas Fermin Cota
- Details: Rafael Nicolas Fermin Cota is an individual investor known for his involvement in various financial ventures. His investment portfolio spans multiple sectors.
- 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. It focuses on providing financial services and investment opportunities across Asia.
- Investment Focus Areas: Financial services, investment management, real estate
- 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. It focuses on digital asset-related businesses and blockchain technology.
- Investment Focus Areas: Digital assets, blockchain technology, financial services
- Notable Investments: Not publicly disclosed
What's Next for Sygnum?
Sygnum's future is brimming with opportunities as it plans to expand into the European Union and Hong Kong markets. These regions offer substantial growth potential, with the European Economic Area alone representing a significant market for institutional crypto services. The company also aims to enhance its Bitcoin offerings and explore strategic acquisitions, positioning itself as a leader in the digital asset banking sector.
Future fundraising efforts are likely to support these ambitious expansion plans. With a strong track record of successful funding rounds, Sygnum is well-positioned to attract further investment. The company may also explore partnerships and mergers to capitalize on favorable market conditions and regulatory reforms, particularly in the U.S.
However, Sygnum will face challenges such as navigating complex regulatory environments and competing with other crypto-focused financial institutions. Maintaining growth momentum and meeting revenue targets amidst market volatility will also be crucial. Despite these hurdles, Sygnum's strategic vision and robust infrastructure make it a formidable player in the evolving digital asset landscape.
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