CoinList reaches the $1.5 billion mark with fresh $100 million funding
The degree of the expansion of the crypto space can be partially measured through the growth of the top cryptocurrency listing platforms and exchanges continuously developing and growing. In recent news, CoinList, one of the biggest token listing platforms and crypto exchange, recently conducted funding rounds in which the platform raised $100 million.
CoinList is a San Francisco based crypto listing platform and exchange founded in 2017. The platform has since then helped several tokens by raising funds from the public. It has also facilitated token sales for renowned projects such as Solana, Filecoin and Dapper Labs. The new addition, CoinList Pro, is the crypto exchange launched last year with custody and staking services.
Series A Funding Round Details
In the Series A funding round, CoinList after raising $100 million raised its valuation to $1.5 billion. The funding round was co-led by Accomplice VC and Agman Partners with Alphemy Capital, Taavet+Sten, Continue Capital, CMT Digital, DFG Capital Management, Fenbushi Capital, GoldenTree Asset Management, and Metaplanet. As a part of the deal, Scott Silverman, the Agman founder and CEO, will be joining CoinList’ board, Graham Jenkin, the CEO of CoinList told to the press.
According to Jenkin, the major driving force behind the growth of CoinList is the impressive number of token launches last year. The crypto space is evolving, and the project needs to scale up to cater to the growing demand. Currently, the team of CoinList includes 75 people, however, with the funding the company aims to double the headcount in the next year.
We’ll continue to focus on helping crypto protocols rapidly innovate, build their communities, and drive adoption in the space through products like Governance and Karma. CoinList Governance helps drive token holders to vote for protocols, and CoinList Karma is a loyalty program that rewards community members for growing protocols, said Jenkin.
CoinList has a global presence but, with more growth in Europe, Asia and the Middle East over the last year. CoinList has over 5 million registered users, growing by the second, including the CoinList Pro users.
CoinList has also observed significant growth in its exchange, with the trading volume increasing to $1 billion in 2021 and the total asset value stake to $2.6 billion. Moreover, more than $130 million staking rewards have been distributed so far, and for lending services, CoinList has facilitated loans worth over $370 million in 2021.
Before the latest Series A funding round, CoinList conducted a funding round in 2018 and doesn’t plan to raise funds anymore for the next 18 months. The company also hinted that considering it is profitable, it might not have to raise funds ever again.