Sygnum receives 40 million dollars in fresh capital

Zurich – Crypto bank Sygnum is on its way to becoming a unicorn: it has raised 40 million dollars in the interim closing of an oversubscribed strategic growth round. This increases the total valuation of the company to 900 million dollars.

Crypto bank Sygnum has raised more than 40 million dollars in fresh capital in the interim closing of its latest financing round. According to their press release, 35 million was originally planned. The company is now valued at 900 million dollars. Sygnum has offices in Zurich and Singapore and also holds licenses in the United Arab Emirates and Luxembourg.

The round was led by the Milan-based and globally active asset management group Azimut, with which Sygnum has maintained a partnership since 2021. Together, the two have developed the first tokenization of a private loan portfolio in Europe. "We firmly believe in the evolution of technology and its positive impact on the investment industry," Azimut CEO Giorgio Medda is quoted as saying. In addition to Azimut, other new and existing investors also participated in this round.

The new funds will be used to expand Sygnum's geographic reach and accelerate the development of Sygnum's fully regulated products. As an example, Sygnum cites its bank-to-bank platform, which is used to process crypto offers from 15 banks and financial institutions worldwide.

Alluding to the "crypto winter" that is coming to an end, co-founder and Group CEO Mathias Imbach says: "Our strategy of building trust through regulation and good governance has guided us through all market cycles." It is "exciting" to close a financing round "in this economic environment with such strong partners". ce/mm

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