Valuation Financial News

Klarna is nearing a deal to raise new money at a valuation of around $6.5bn, according to people familiar with the matter, a humbling comedown and a testament to the punishing environment facing startup companies.

SINGAPORE & HONG KONG – JUNE 28, 2022 Hong Kong Digital Asset Exchange Limited (HKD.com), a leading digital asset exchange in Hong Kong, today announces that the company has entered a joint strategic partnership and merger and acquisition with Technicorum Holdings (www.technicorum.com), diving further into the $163 billion annual global blockchain market. The merger company, formerly known as Gravitas International Associates Pte Ltd, a Singapore regulated Payment Services Act exempt company, will be newly renamed as HKD.com (Singapore) Pte Ltd, which will allow both groups to leverage each other's strengths and networks to get more deeply entrenched in the blockchain industry. With regulated payment services globally, a leading centralised exchange app and platform, a regulated token launchpad, expertise from ICO’s to IEO’s, IDO’s, IGO’s, DeFi and NFT’s, as well as recently GameFi, SocialFi, and the Metaverse, this strategic partnership is a great enabler for both HKD.com as well as Technicorum.

Crypto platform FalconX doubles valuation to $8 billion in new funding round

Despite the ongoing bearish trend in cryptocurrency markets, venture capital firms continue pouring capital into major industry players like FalconX.

On Tuesday, Magic Eden, a popular nonfungible tokens (NFTs) platform on the Solana (SOL) blockchain with 112,927 SOL ($4 million) in 24-hour trading volume, announced that it had closed a Series B round for $130 million. The funding round was led by investors such as Electric Capital, Greylock, Lightspeed Venture Partners, Paradigm and Sequoia Capital  valued the firm at $1.6 billion.

Klarna Bank is considering raising fresh funds at a significantly lower valuation than it achieved a year ago, according to people familiar with the situation, a sign of the punishing environment for tech companies.

Klarna Bank is seeking to raise new funds that could value the fintech giant at almost a third less than the roughly $46bn valuation it achieved just under a year ago, according to people familiar with the matter, an example of the struggles facing the tech investing world.

Chainalysis provides data, software, services, and research to government agencies, exchanges, financial institutions, and insurance and cybersecurity companies, helping them to ensure cryptocurrency compliance.Over the last year, the firm has increased its customer count by 75% and now has more than 750 clients in 70 countries. It has tripled its financial services user base, and now counts more than 100 FIs as customers.As it added blue chip outfits like Robinhood, Bank of New York Mellon, Cross River Bank, Commonwealth Bank and NFT platform Dapper Labs, Chainalysis has also hired more than 450 people over the last 12 months, bringing its headcount to around 700.

Mumbai: Crypto trading exchange CoinDCX has raised $135.9 million (about Rs 1,000 crore) from investors led by Pantera Capital and Steadview Capital, doubling its valuation to $2.15 billion in less than a year to become the most valued crypto trading platform in India. The funding comes in the backdrop of crypto exchanges facingnewly introduced taxation rules in India. CoinDCX and its peers, like WazirX and CoinSwitch Kuber, have seen their volumes plummet to new lows this month due to restricted access to modes of depositing money for users. According to the company, Pantera Capital and Steadview Capital infused about half of the funds in the latest round, which also saw participation from Kingsway Capital, DraperDragon, Republic, and Kindred Ventures.

Investments in the crypto industry's infrastructure seem to be a lucrative opportunity, as another crypto giant might go public this year, while one exchange boosted its valuation sharply. 

According to a report published by Bloomberg on Thursday, Ava Labs is en route to raising a new round of funding for $350 million at a valuation of $5.25 billion. Details of the agreement have not been made public. Ava Labs is the lead developer of the Avalanche (AVAX) blockchain. 

Ethereum is set to undergo a major upgradation

Binance​.US, the American partner of Binance, the world’s largest cryptocurrency exchange by trading value, has completed its first-ever external funding from investors like Circle Ventures.

The crypto wallet operator and exchange service Blockchain.com has more than doubled its valuation to the USD 14 billion mark in the space of a year, the firm has claimed.

Major crypto exchange Coinbase-backed startup Worldcoin is reportedly set to raise USD 100m through the sale of its tokens, valuing the total supply of the tokens at USD 3bn.

Yuga Labs, the creators of Bored Ape Yacht Club (BAYC) and new owners of the CryptoPunks and Meebits brands, announced it is now valued at $4 billion after its latest $450 million seed funding round. VC firm Andreessen Horowitz, or a16z, led the company's first institutional investment, marking one of the largest seed rounds for any nonfungible token (NFT) collection to date.

ConsenSys' valuation more than doubled to over $7 billion after its latest funding

The Federal Reserve’s decision to start raising rates has a surprising beneficiary: a cryptocurrency startup.

ConsenSys, founded by Joseph Lubin, is an Ethereum blockchain firm.

Hong Kong-based Hex Trust raised $88 million in Series B funding led by Animoca Brands and Liberty City Ventures, following which it saw its valuation rise to $300 million.

On Tuesday, ConsenSys, the leading Ethereum and decentralized protocols software company with product suites such as MetaMask, Infura and Truffle, announced the close of a $450-million Series D funding round led by ParaFi Capital. Notable new investors included Temasek, SoftBank Vision Fund 2, Microsoft, Anthos Capital, Sound Ventures and C Ventures. The deal more than doubles its valuation since the firm’s $200-million Series C raise in November 2021.