Crypto Finance raises $14.5m in Series B funding
Crypto Finance AG, a Switzerland-based firm focused on distributed ledger technology, has raised $14.5 million in Series B funding.
Crypto Finance CEO says the funding is a “final mile” in gaining a brokerage licence
The latest round was led by Swiss investor Rainer-Marc Frey, Chinese firm Lingfeng Capital and Hong Kong-based QBN Capital.
Founded in June 2017, Crypto Finance provides blockchain-related services through asset management, brokerage, and storage divisions.
The firm has raised a total of $37 million from five rounds, including two Series A rounds in 2018 and 2017, and an Angel Round in October 2017.
Jan Brzezek, CEO and founder of Crypto Finance, says that the new injection enables it to continue with its “vision and strategy”.
He told CoinDesk that the funding would be the “final mile” of his firm gaining the necessary capital for a broker-dealer licence from Swiss financial regulator FINMA.
Crypto Finance is also set to put much of the new funding towards continued international expansion and product and service development.
“This opportunity brings us exposure to the promising crypto asset fintechs working within the regulatory framework and a partner with traditional finance sector experience,” says Ming Shu, partner at Lingfeng Capital.
Related: What the Fintech? Episode 3 | Digital disruption: Bitcoin and stable coins
