Global crypto exchange KuCoin has closed its pre-Series B round on $150m, which brings its valuation to $10bn.
The decacorn will use the capital to expand its presence in Web 3.0, including crypto wallets, GameFi, DeFi, and NFT platforms through investment arms like KuCoin Labs and KuCoin Ventures.
Other plans for the funds include, building the next generation of KuCoin core trading system, support KuCoin’s global regulation efforts and enhance security and risk management systems.
Jump Crypto led the round, with participation also coming from Circle Ventures, IDG Capital and Matrix Partners.
KuCoin, which launched in 2017, is a global cryptocurrency exchange for over 700 digital assets. Its services include, spot trading, margin trading, P2P fiat trading, futures trading, staking and lending.
Jump Crypto Head of Asia Tak Fujishima said, “KuCoin provides a comprehensive platform of crypto services to a global audience, which is one of the many reasons we’re proud to lead this round. We are pleased to support the company as it continues to grow and expand its offerings in futures and margin trading, lending, staking and passive yield generation to support the growth of Web 3.0 and the crypto markets.”
KuCoin, CEO Johnny Lyu added, “The vote of confidence from prominent investors, including Jump Crypto and Circle Ventures, solidifies our vision that one day everyone will be with crypto. KuCoin is built for all classes of investors, and we believe these new investors and partners will contribute to making KuCoin synonymous with a reliable and trustworthy gateway into crypto space.”
The FinTech company previously raised $20m in its Series A round back in November 2018. The round was backed by IDG Capital, Matrix Partners and Neo Global Capital.
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