KuCoin, a cryptocurrency exchange, has just completed its first financing round in four years, raising a total of $150 million.
The exchange’s value is now estimated to be $10 billion.
KuCoin, a cryptocurrency exchange, has announced a $150 million pre-Series B financing round:
#KuCoin announced a $150 million pre-Series B funding round, bringing its valuation to $10 billion.
The round, led by @jump_, saw the participation of multiple investment funds, including @circlepay, @IDGCapital & @MatrixPartners.
— KUCOIN (@kucoincom) May 10, 2022
Circle Ventures, whose parent business is the issuer of the USDC stablecoin, is part of this enterprise.
Jump Crypto led the round, which also included investment funds Matrix Partners and IDG Capital.
Tak Fujishima, head of Jump Crypto’s Asia division, emphasized his company’s enthusiasm for KuCoin and this fundraiser:
KuCoin provides a comprehensive cryptocurrency service platform to a global audience, which is one of the many reasons we are proud to lead this round.
This is the first fundraising for the Singaporean exchange in nearly 4 years, with the previous date being November 2018 and raising $20 million dollars.
Since its inception in September 2017, the site has grown to 18 million users in 207 countries and regions throughout the world.
Even if the company does not have the same level of popularity as its competitors Binance or FTX, it appears willing to contribute to the growth of Web 3.0 by providing a comprehensive set of services.