Lender Matrixport seeks $100M investment

Lender Matrixport seeks $100M investment

25.11.2022 13:27 (Updated 25.11.2022 15:11)
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by Maksym Prykhodko
2 min read

Matrixport, one of the biggest lenders in Asia, founded by Bitmain mining hardware CEO Jihan Wu, is seeking a $100M investment at a $1.5B valuation despite the market turmoil.

The firm confirmed the information via its official Twitter account, referring to Bloomberg news posted today. Matrixport already has commitments from the leading investors amounting to $50M, and the disclosure encourages new partners to consider investing in the firm:

“We’re excited and look forward to engaging with participants, on similar terms, in the other half of the funding round. Appreciate the trust and confidence our investors continue have in Team Matrixport.”

In Aug. 2021, Matrixport ran a $100M Series C round led by K3 Ventures, DST Global, and C Ventures, which evaluated the company at $1B, making Matrixport a unicorn. Ross Gann, the head of public relations at Matrixport, said that a new round is a typical move for the growing company.

Despite the market turmoil caused by the FTX collapse and Babel Finance going through a restructuring process due to the liquidity crises and echoing 3AC and Celsius collapse, Matrixport is seeking more investments.

Related: Celsius Files for Bankruptcy

According to the Matrixport website, the firm processes $5B in monthly transactions and manages and stores more than $10 billion in crypto assets. Nearly 300 people allegedly work for the company.

Even though 79 consumers of Matrixport were affected by FTX and lost their funds via the platform using the BTC Fixed Income Products and Victoria BTC Funds product, the firm itself is safe following the official statement from Nov.11.

Related: FTX CEO Transferred Customer Deposits to Help His Other Company

The company assures the clients: “Matrixport’s products are subject to strict segregation so that a single affected product will not affect the other products, as the underlying asset and fund flow are segregated.”

Author

  • Maksym has denied the existence of crypto as an asset for 3 years when he was working with standard financial instruments. Became Head of Treasury. Won the best bank employee award and left the bank for cryptocurrency exchange the next day. Got a second university degree, but that didn’t stop him from studying finance yet. Combines fiat and crypto experience to be as objective as possible in general matters. His dream is to be interviewed by Bloomberg.

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